THE STATEMENT ON CONTRIBUTION AGREEMENT SIGNED BETWEEN THE EUROPEAN COMMISSION AND THE EUROPEAN INVESTMENT BANK

On 25 October 2023, the European Commissioner for Neighborhood and Enlargement, Olivér Várhelyi and the President of the European Investment Bank, Werner Hoyer signed the statement on Contribution Agreement between the European Commission and the European Investment Bank (EIB).

The Agreement envisages the European Commission’s financial support to the EIB’s  investment grant worth 16 million euros, and is intended for the implementation of Georgia Transport Connectivity (GTC) project. The project aims to develop the road and transport networks and infrastructure in Georgia. 

With this statement, the European Commission and the European Investment Bank confirm that the ongoing negotiations for signing the Contribution Agreement have been completed.