Georgia to launch large-scale construction project in installments

By Trend

Georgia will launch a large-scale government program for construction of public infrastructure facilities in installments, Prime Minister Irakli Garibashvili said at a government meeting today, Trend reports via Georgian media.

According to the PM, the government intends to act as a guarantor to banks for construction companies, and then, within 3 to 5 years, to return the money to the companies.

"The total amount of financing is about 2.5-3 billion Georgian lari ($815-970 million). At the initial stage, 2 billion Georgian lari ($651 million) is needed to start the construction. About 20,000 people will be employed under this initiative," Garibashvili said.

The PM said that sports and culture as one of the main priorities. It is planned to renovate museums and theaters, as well as the main stadiums in all districts. New sports complexes will appear in all districts.

Under the project, 80 schools will be built, and 220 schools will be completely renovated. In addition, it is planned to build 90 new and repair 412 kindergartens, Garibashvili added.