The Foreign Relations Committee discussed and approved the documents for ratification.

The Deputy Finance Minister, Eka Guntsadze introduced the Loan Agreement between KfW, Frankfurt on Main, and Georgia, represented by the Finance Ministry (“reporter”) on Sustainable Urban Development - Urban Mobility in Batumi. The agreement is on the allocation of the loan of 15 ml EURO for the term of 15 years, where 10 are preferential. The project envisages the facilitation of the urban mobility municipal infrastructure in Batumi: improvement of smart transport systems, and bike and bus lines.

The Committee also discussed the Loan Agreement between Georgia and IBRD (Enhancing Energy Security Through Power Interconnection and Renewable Energy Program - Phase I of a Muti-Phase Programmatic Approach). As E. Guntsadze elucidated, the document envisages the allocation of 32,4 ml EURO as a loan for the term of 29 years, where 6 are preferential for the study of the geophysical and geotechnical details of the Black Sea bottom and the provision of the legal and financial consultations in view of the realization of the high-voltage submarine transmission line.

“It is a strategic project as for the EU so for Georgia not only in energy security terms but for the security in general and also, in terms of the transformation of our country into the energy hub”, - the Chair of the Committee, Nikoloz Samkharadze stated.

The Letter-Agreement of the Change N3 to the Financial Agreement between Georgia and EIB of October 15, 2015, (Kutaisi Sewerage System) envisages the allocation of a loan of 100 ml EURO for the rehabilitation of the sewerage system in Kutaisi.

As the Deputy Regional Minister, Mzia Giorgobiani underlined, the loan is allocated for 25 years. The loan transfer deadline is extended from December 23, 2024, to June 30, 2028, and technical corrections are introduced to the document. At that, the project period is 2021-2028.

“It is noteworthy that the project components are being specified and the loan term is extended”, - said the reporter.