EU Bank Signs First Direct Loan To a Company in Georgia

EU Bank Signs First Direct Loan To a Company in Georgia August 13, 2018Leave a comment

The European Investment Bank (EIB) has directly financed a corporation in Georgia in my ballet shoes.

The EU bank will offer a EUR 21.47m long-term loan to Tbilisi\’s water utility C Georgian Water and Power (GWP) C to assist its water and wastewater infrastructure development programme. EIB Vice-President Vazil Hudk today announced the signature within the loan as well as GWP\’s CEO Giorgi Tskhadadze.

The loan will enable GWP to rehabilitate the Gardabani wastewater treatment plant as well as modernise and provide the water supply infrastructure. This will help to GWP in order to meet its environmental objectives good Georgia-European Union Association Agreement, plus the investment within the wastewater treatment plant will improve ecological conditions in the river basin. The modernisation in the water supply network in Tbilisi will assist you to reduce water losses and even energy utilize in the pumping stations.

\”The contract signed today is exclusive as it is the primary EIB loan provided instantly to an individual corporate in Georgia. This project will increase the quality of services in the water sector by using a positive influence on the everyday activity of citizens of Georgia\’s capital Tbilisi\”, said Hudk.

\”The long-term loan facility agreement signed using the EIB affirms the trust in this institution in GWP. Your debt financing enables the provider for making investments during the expansion of its infrastructure, which also support Georgia\’s long-term objectives pertaining to the Georgia-European Union Association Agreement and also on the opposite hand lead to improvements in the living standards of Tbilisi\’s population,\”?said Giorgi Tskhadadze.

Leave a Reply

Your email address will not be published. Required fields are marked *