Page 16 - GEORptMar19

4.3 Fixed investment
Georgia -Fixed capital investment 2012 2013 2014 2015 2016 2017 1Q18 2Q18
Gross fixed investment capital formation (GEL mn)
3,936.1 3,540.5 4,260.5 3,951.7 4,358.8 4,481.7 989.6 1,304.6
Gross fixed capital formation (% of GDP)
28.8% 24.6% 29.5% 31.3% 32.4% 31.6% 31.1% 35.8%
Source: CEIC
EIB lends Georgia €250mn to improve infrastructure
The European Investment Bank (EIB) and the Georgian government signed a deal on a €250mn loan to finance infrastructure projects in Georgia on 19 February, Georgia Today reported . Georgian Prime Minister Mamuka Bakhtadze and vice-president of the EIB, Vazil Hudak, signed the deal in Tbilisi.
The money will be used for “vitally important” infrastructure projects, said the government of Georgia, such as the construction and renovation of the Rustavi-Red Bridge-Sadakhlo highway.
“Such highways significantly increase Georgia’s transit role,” stated Bakhtadze. “EIB is the financial instrument of the EU and our activities for Georgia confirm that you are part of Europe. The loan will provide opportunities for Georgia to come closer to the EU and use its geopolitical location to connect Europe with Asia,” said Hudak.
Bakhtadze said he considers the EIB an important partner in Georgia’s development. The new infrastructure projects should also create new jobs in Georgia.
16 GEORGIA Country Report March 2019 www.intellinews.com