The European Bank for Reconstruction and Development has allocated a sovereign loan of EUR 50.6 million, including an investment grant of about EUR 5 million, from its Green Climate Fund to finance the renovation of up to 12 metro stations in the Georgian capital city of Tbilisi.
Georgian Finance Minister Lasha Khutsishvili said by signing the Tbilisi Metro Modernisation Loan Agreement with the EBRD the Government hoped “to further our efforts to improve Georgia’s environment and citizens’ quality of life”.
“We also hope that the project’s successful completion will encourage more people to use public transportation by enhancing the Metro system’s accessibility, dependability, and safety. The project will improve the metro stations’ energy efficiency that will help the city to build more effective infrastructure and lead to enhanced climate resilience,” Khutsishvili said.
Mark Bowman, Vice President for Policy and Partnerships at the EBRD, said Tbilisi had made “significant progress” in transforming its urban transport infrastructure to meet “growing environmental challenges” over the recent years.
The bank also noted Tbilisi was one of the first cities to join its flagship Green Cities programme, which supported members in addressing their environmental challenges through sustainable investments and policy measures. The city was also one of the first to develop a Green City Action Plan. (Agenda/Business World Magazine)
