EIB to allocate 80 million euro for Black Sea power line project
The European Investment Bank will allocate 80 million euros (107.15 million U.S. dollars) for the construction of the Black Sea power line.
Georgia"s deputy finance minister and EIB vice president signed the agreement Thursday in Tbilisi. The high-voltage power line will connect electric grids of the two sides.
Last week, Georgia signed a similar agreement with the European Bank for Reconstruction and Development, which also pledged to allocate 80 million euros (107.15 million U.S. dollars) for the project.