WASHINGTON, October 30, 2008- The following project was approved today by the World Bank’s Board of Executive Directors:
IDA Credit: US$20 million
TERMS: Maturity= 20 years; Grace = 10 years
Project Description: The project aims (i)to contribute to the gradual reduction of road transport costs and improve ease of transit and safety along the central part of Georgia’s East-West corridor through upgrading a segment of the East-West Highway (E60) from Tbilisi to Rikoti, and (ii) to strengthen the capacity of government agencies (particularly the Road Department of the Ministry of Economic Development) to develop and implement a traffic safety program. The additional financing involves no change of the project’s original objectives, design or scope.
Media Contact
Michael Andrew Jones
(202) 473-2588
mjones2@worldbank.org
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