Categories: Georgia

ADB, Georgia Sign Loan Agreements for Water, Coastal Improvement Programs

The FINANCIAL — The Asian Development Bank (ADB) and the Government of Georgia have signed agreements for a $75 million ADB loan to support upgrading sewerage and sanitation system in secondary towns of Zugdidi and Mestia, and a $20 million ADB loan to reduce coastal erosion around the popular Black Sea tourist destination of Batumi.

“The first program will help meet the growing demand for reliable water and sanitation services — a priority of the government,” said Yesim Elhan-Kayalar, ADB Country Director in Georgia. “The second program will support tourism, benefitting urban residents and the local economy.”

Under the $500 million water and sanitation program, a new pipe water system will be built to provide safe water supply to local communities. A comprehensive sewage collection and treatment facility serving nearly 34,000 households in both towns will also be constructed.

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Meanwhile, the $300 million Sustainable Urban Transport Investment Program will support coastal protection efforts along the 5-kilometer Batumi coastline, where erosion threatens beaches, roadways, bicycle lanes, and buildings.

ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, it is owned by 67 members – 48 from the region. In 2014, ADB assistance totaled $22.9 billion, including cofinancing of $9.2 billion.

Since 2007, ADB has approved more than $1.7 billion in financing operations for Georgia.

 

The FINANCIAL

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