World Bank’s financial support will be directed to economic and tourism potential growth of Mtsketa -Mtianeti and Samtskhe -Javakheti regions
On August 7th of the current year agreement on implementation of Regional development project III was signed between Minister of Finance of Georgia Nodar Khaduri, acting head of World Banks Georgian office Soso Melitauri and EBRD. Project will be implemented by JSC Municipal Development Fund of Georgia during 2015-2019. Today agreement was signed by MDF executive director Juansher Burchuladze and acting head of World Bank’s Georgian office Soso Melitauri. loan agreement signing process was attended by first deputy minister of Regional Development and Infrastructure of Georgia Ilia Darchiashvili.
World Bank’s allocated funds USD 60 million will be added to government of Georgia’s allocated funds USD 15 million and will be applied for implementation of infrastructural projects within the framework of mentioned regional development Project III.
On Mtsketa -Mtianeti and Samtskhe - Javakheti regions scale project envisages rehabilitation of urban, tourism, public facilities infrastructure and popularization of cultural heritage, historical buildings and will support private sector as well. Implementation of mentioned project will improve living conditions and will attack investments in construction rehabilitation and private sectors. Tourism development in this region will increase tourist flow and employment opportunities.
Development of travel routs is also planned, including urban landscape and car parking areas, also construction of information booths, cafes and public toilets.
It is significant that two similar projects are already under implementation in Imereti and Kakaheti regions (Imereti USD 30 million and Kakheti USD 60 milion).
