OREANDA-NEWS. December 24, 2007. Georgian government is implementing a lot of important state projects with support of the World Bank.  Among them is the strategic direction of development of  transport and road infrastructure, which is one of the necessary basement of Georgia's economic development.
 
For this purpose, on December 20 of the current year, one more agreement was signed with the Ministry of Finance, the Ministry of Finance of Georgia reports. Namely, The Minister of Finance Nika Gilauri and Resident Representative of World Bank, Tamar Sulukhia signed an agreement between Georgia and World Bank's International Development Association on funding of  "Second project of improvement of  East -West highway".

The aim of the agreement is to put Ogoeti-Sveneti 24-kilometer road passage in line with the international standards. The building of a new two-line road and full rehabilitation of existing one is planned. There will be allocated 35 million USD privileged  loan for implementing this plan. Its duration is 20 years, from which the first 10 are a privileged period when interest rate equals to 0.75%.

Project envisages the construction of alternative road around the village Ogoeti, which will prevent the loading of the main road. The implementation and monotor of the project components will be indertaken by the Roads Department of the Ministry of Economic Development.