The European Bank for Reconstruction and Development (EBRD) and the Green Climate Fund (GCF) will provide a EUR 75-million sovereign loan to modernize Tbilisi’s metro network in Georgian capital city.
The EBRD will allocate EUR 65 million, while the GCF will provide EUR 10 million, which will be spent on the acquisition of 40 modern metro cars as well as the modernization of a depot and a tunnel.
“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”, said Catarina Bjorlin Hansen, EBRD Director for the Caucasus.
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.
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. (Agenda/Business World Magazine)