ADB invests $20M in Georgian Railway

The Asian Development Bank (ADB) has invested $20 million in green bonds, issued by Georgian Railway JSC, with proceeds to be used primarily to roll over maturing Eurobonds that it had issued to improve existing railway lines as a part of an ongoing modernization project, Report informs, citing the Bank.

“Georgia lies at the crossroads of Europe and Asia, and serves as an important trade and transport corridor,” said ADB Private Sector Operations Department Director of Infrastructure Finance for South Asia, Central Asia, and West Asia Shantanu Chakraborty. “The issuance of these green bonds will enable Georgian Railway to modernize its rail network, which is vital to the country’s economy, as well as to the region, to ensure faster and safer rail transport.