BAKU, Azerbaijan, October 26. The EU has formalized a financial package to support Georgia's transport infrastructure, Trend reports.
The package was signed by EU Commissioner for Neighborhood and Enlargement Olivér Várhelyi, and President of the European Investment Bank (EIB) Werner Hoyer.
It involves the European Commission granting 16 million euros through EIB Global to enhance road safety along Georgia's East-West highway.
The project will focus on enhancing physical safety measures on the roads, providing engineering services, and conducting awareness campaigns to reduce the frequency and severity of accidents.
Simultaneously, the improved safety of Georgia's extensive Trans-European Transport Network (TEN-T), which links the country to Europe and specific local transport routes, will fortify its trade connections and economic development.
Furthermore, this project significantly contributes to enhancing transportation connectivity along the Trans-Caspian International Transport Route (TITR), or the so-called Middle Corridor, which connects Central Asia to Europe via the South Caucasus.