BAKU, Azerbaijan, Apr.30
By Tamilla Mammadova – Trend:
Georgia will benefit from a 75 million euro sovereign loan, with 65 million euro provided by the European Bank for Reconstruction and Development (EBRD) and 10 million euro - by the Green Climate Fund (GCF) for the modernization of the Tbilisi metro network, and the provision of new rolling stock, Trend reports via EBRD.
EBRD noted that the funds will finance the acquisition of 40 modern metro cars, as well as the modernization of a depot and a tunnel.
“The metro upgrade and new rolling stock will improve the reliability, safety and efficiency of public transport and provide commuters with a comfortable and environmentally friendly means of transport. Tbilisi has almost 1.2 million inhabitants and becomes very congested during peak hours. The updated metro will encourage residents to shift from private to public transport, reducing air pollution,” EBRD said in its official statement.
On top of that, EBRD pointed out that the project also aims to promote gender equality and improve health and safety standards. It will include on-the-job training opportunities promoting the employment of women and addressing equal opportunities in the urban transport sector.
The European Bank for Reconstruction and Development said it has launched a vital Infrastructure Support Program as part of its response to the coronavirus pandemic to guarantee the operation and development of crucial infrastructure supplies and services. Infrastructure investments are vital for the local economy and create or secure jobs.
“Infrastructure plays a critical role in providing the services we need for our daily lives and for the functioning of the economy. The modernization of the Tbilisi metro will be a milestone in addressing the city’s key environmental challenges. The demand for quality public transport is high and such projects have an excellent environmental and social impact,” Catarina Bjorlin Hansen, EBRD Director for the Caucasus stated.
Since the start of its operations in Georgia, the EBRD has invested over 3.7 billion euro in 249 projects in the financial, corporate, infrastructure and energy sectors, with 87 percent of these investments in the private sector.
---
Follow the author on Twitter: @Mila61979356
