The FINANCIAL — Representatives from the Asian Development Bank (ADB), Ministry of Regional Development and Infrastructure, the Municipal Development Fund of Georgia and the Mayor of Tbilisi held an inauguration ceremony on July 28 to mark the start of construction on the next phase of the capital’s metro rail expansion.
The new phase will involve rehabilitating tunnel between Vazha Pshavela and University stations and opening of a new station. The project is being financed under ADB’s Sustainable Urban Transport Investment Program.
“The project will improve the efficiency and reliability of the urban transport network, create economic and job opportunities, and pave the way for a more sustainable environment in Tbilisi,” said Kathie Julian, Country Director in ADB’s Georgia Resident Mission.
The establishment of an efficient, sustainable transport network is considered a key component of further urban development in Georgia, and the government is working with its development partners to provide a transport system that meets the needs of all citizens and improves their quality of life.
“The works will signal the completion of the metro line 2 extension resulting in increased and improved mobility, as well as relieving pressure on the road network,” said Bertrand Goalou, Senior Urban Development Specialist at ADB. “This will also have clear real estate and sustainable urban development-related benefits.”
ADB has supported Georgia since 2007. As of end 2014, ADB-approved cumulative assistance to Georgia totaled more than $1.6 billion, including $259 million in approved loans and technical assistance grants in 2014 alone.
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.