A loan agreement [Trans-Caspian Transport Corridor – Georgia Connectivity and Transport Improvement Project] was signed between Georgia and the Asian Infrastructure Investment Bank [AIIB], which envisages the allocation of approximately 158.5 million Euros to Georgia.

The document was signed by Lasha Khutsishvili, Minister of Finance of Georgia and Konstantin Limitovskiy, Chief Investment Officer [CIO] of AIIB for Public Sector, Global Projecs and Corporate Finance.

The project aims to construct four-lane highway sections - from Badiauri to Chalaubani [Lot 4 – 21.7 km] and from Chalaubani to Bakurtsikhe [Lot 5 – 9.1 km] - along the Kakheti Highway, as well as a road section from Gurjaani to Telavi [36.6 km].

The total cost of the road infrastructure project in the direction of Kakheti is 316.8 million Euros; within its scope, 158 million Euro has already been approved and allocated to Georgia by the World Bank. These investments in road infrastructure represent yet another important step toward increasing the efficiency of the Middle Corridor, which will also contribute to improving the productivity and sustainability of the country`s transport infrastructure and Georgia’s long-term economic growth.

The executing agency for the project will be the Ministry of Regional Development and Infrastructure of Georgia [MRDI] and the project will be implemented by the Roads Department.