EBRD allocates €50.6M for rehabilitation of metro stations in Tbilisi 

The European Bank for Reconstruction and Development (EBRD) is supporting the development of greener public transport in Georgia, Report informs, citing the Bank.

A sovereign loan of up to €50.6 million will finance the rehabilitation and upgrade of up to 12 metro stations in Tbilisi. The financial package includes an investment grant of up to €5 million from the Green Climate Fund (GCF).

With a population of 1.2 million, Tbilisi was one of the first cities to join the EBRD's flagship Green Cities programme, which supports 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 (GCAP).

Tbilisi has already made significant progress thanks to its efforts, including bus fleet renewal and network restructuring.

The new loan builds on this broader effort, part of which seeks to encourage people to shift from private to public transport.

"Today, by signing the Tbilisi Metro Modernization Loan Agreement with the EBRD, we hope to further our efforts to improve Georgia's environment and citizens' quality of life. We also hope 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, will help the city to build more effective infrastructure and lead to enhanced climate resilience," Lasha Khutsishsvili, Minister of Finance of Georgia, said.

Finally, I would like to thank the Bank for being a reliable partner, making great efforts and contributing to the development of our country. I hope that this productive partnership will continue to grow".

Mark Bowman, Vice President for Policy and Partnerships at the EBRD, added: "In recent years, Tbilisi has made significant progress in transforming urban transport infrastructure to meet its growing environmental challenges. We hope that this fruitful cooperation will continue."

The EBRD has invested €5 billion in Georgia to date through 283 projects, with more than 80% of those in the private sector. The Bank's key areas of investment in the country include the financial sector, sustainable infrastructure, manufacturing and services, and small and medium-sized enterprises.