The Foreign Relations Committee reviewed and supported the international agreement entitled "Loan Agreement between Georgia and the Asian Infrastructure Investment Bank (AIIB) (Trans-Caspian Transport Corridor – Improving Accessibility and Transport in Georgia Project)".

According to First Deputy Finance Minister Giorgi Kakauridze, Parliament has already ratified the agreement signed with the World Bank, under which EUR 158.4 million was allocated for the construction of three road sections: a 17-kilometre section from Badiuri to Chalaubani, a 4-kilometre section from Chalaubani to Bakurtsikhe, and a 36-kilometre section from Gurjaani to Telavi.

"The estimated total cost of constructing these roads amounts to EUR 317 million. The World Bank has already allocated the first half of the funding required for the implementation of the project, while the second half will be financed by the Asian Infrastructure Investment Bank", - Giorgi Kakauridze stated.

According to him, the Bank has provided a loan of EUR 158,424,310 for the implementation of the project. The loan has a maturity of 25 years, including a 10-year grace period.

The project is scheduled for completion by 31 December 2031. It will be implemented by the Ministry of Regional Development and Infrastructure through the Roads Department of Georgia.