North-South Corridor (Kvesheti-Kobi) Road Project (EBRD-50271)

Countries
  • Georgia
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
A
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Oct 2, 2019
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Georgia Sovereign
The holder of the loan, grant, or other investment.
Sectors
  • Construction
  • Infrastructure
  • Transport
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 60.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 558.60 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Aug 16, 2019

Disclosed by Bank Jul 30, 2019


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Project Description

According to the Bank's website, this project finances the construction of the Tskere-Kobi tunnel which forms part of the Kvesheti-Kobi road section, located on the Jinvali-Larsi Road (North-South Corridor). 

According to the Bank, a new 23km bypass road from Kvesheti to Kobi will be built to allow more traffic to travel on it safely, and will remain fully operational all year; it will also provide 5km of all-weather rural roads that will serve roadside villages. The project will include five tunnels with a total length of about 11.6km and six bridges with a total length of about 1.6km.

According to the Bank, the project Environmental and Social Impact Assessment disclosure package has been completed and disclosed on the Roads Department and EBRD website. There have been more than 40 stakeholder engagement events held. The Roads Department will develop and implement a Project framework Environmental and Social Management System. The Project is going to involve both physical and economic displacement. 

The Project Implementing Agency is the Roads Department of Georgia under the Ministry of Regional Development and Infrastructure, which has overall responsibility for the road sector and is responsible for the implementation of the Project.

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Contact Information

Givi Kveladze
givi.kveladze@georoad.ge
(+995 32) 2 37 05 08
http://www.mrdi.gov.ge/
12 Kazbegi ave., 0160 Tbilisi, Georgia

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.