Georgia, World Bank sign grant agreements on two projects

TBILISI, March 10 (RIA Novosti) - Georgia's finance ministry said Friday it had signed two grant agreements worth more than $5.2 million on two projects with the World Bank.

The first grant, worth $5 million, will be allocated to a pre-investment infrastructure rehabilitation project totaling $5.9 million. The project lays the groundwork for construction of the Khudoni hydroelectric power plant ($3.2 million) and for the development of the transport corridor ($2.7 million).

The second grant, worth $244,700, will be allocated to finance a two-year project on use of social and economic statistics in Georgia's economic policy. The project aims to help the country's statistics department introduce a new system of making national reports.

The World Bank has allocated about $816 million to finance 40 programs in Georgia, a WB member since 1993.

Meanwhile, the U.S. Trade and Development Agency (USTDA) said Thursday it had allocated $356,000 to prepare the construction of a new power transmission line in Georgia to help the country ensure energy security. The money will be used to draft and evaluate the project.

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