Georgia, World Bank Sign $70 Million Loan for Road Improvements

Georgia and the World Bank signed a $70 million loan agreement to develop and improve the country’s highways.

The project involves 225 kilometers (140 miles) of roads, according to a statement from the Finance Ministry in Tbilisi today.

World Bank commitments to Georgia since 1992 total $1.6 billion. In February, the bank described Georgia as a “unique success” in tackling corruption, saying that reported crime fell more than half between 2006 and 2010.

To contact the reporter on this story: Helena Bedwell in Tbilisi at hbedwell@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net

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