World Bank approved on November 2 an additional financing of USD 45 million to Georgia for the regional and municipal infrastructure development.
This additional financing, which includes a USD 33.5 million loan from IBRD and International Development Association (IDA) credit of USD 11.5 million, has been requested by Georgia government to scale up already existing regional infrastructure development project, according to the World Bank.
The original project with USD 40 million credit became available after the August, 2008 war to mitigate the armed conflict’s impact.
Funding is allocated mainly for rehabilitating municipal services, preparing strategic development plans for several cities, improving local roads and water services.
Current World Bank portfolio in Georgia consists of 12 active investment projects for a total of USD 469 million.