Page 20 - GEORptMay21

4.2.2 PPI dynamic
Georgia’s PPI for industrial products up 11.7% y/y in December
Georgia’s Producer Price Index (PPI) for industrial products increased by 11.7% y/y in December 2020, the most since June, following a 10% rise in the previous month. On a monthly basis, producer prices rose 1.1% in December, after a rise of 2.4% in November.
4.3 Fixed investment
EIB backs three major infrastructure projects in Georgia
The European Investment Bank (EIB) is to support three infrastructure projects in Georgia as part of its $3.7bn COVID-19 Worldwide Support programme.
The first project is the construction of the Algeti-Sadakhlo road, of around 30 kilometres). It will connect a transit corridor of the E-60 Highway to the Armenian border.
The second project is Rustavi Red Bridge, connecting Georgia to Azerbaijan. It forms part of the E-60 highway and the extended Trans-European Transport Network (TEN-T) core network in Georgia.
Finally, EIB will finance the development of a new fibre optic network providing broadband internet access to more than 1,000 remote rural villages across the country.
Business investment, renewable energy and upgrading hospitals, schools, internet services and urban infrastructure will be accelerated by the new financing approved on March 11 by the EIB.
20 GEORGIA Country Report May 2021 www.intellinews.com