EBRD to finance dump construction in Georgia's Ajaria Autonomous Republic

According to the Ministry of Finance, the agreement was signed by the Minister of Finance KakhaBaindurashvili and EBRD Operation Leader Paul Covenden on feb. 18.

The loan agreement implies allocation of EUR 3 mln for 15 years, with 3 years of grace period.

Beside the construction of the dump, sorting and recycling of the refuse are also planned.

It will favor improvement of the region's ecologic state, luring new investments and increase of income.

The total cost of the project amounts EUR 9.5; out of them a EUR 4 mln grant is allocated by SIDA [Swedish International Development Cooperation Agency]; EUR 1.2 mln is the grant of technical cooperation; EUR 1.3 mln - co-financing of the Georgian side.

/Georgia Times/