Germany`s Credit Bank of Reconstruction will allocate 100 mln credit to Georgia intended for construction of the Black Sea high-frequency power transmission line. The Minister of Finances of Georgia Kakha Baidurashvili and the interim envoy of the German Republic to Georgia Heike Gabriel signed the relevant agreement at the Ministry of Finances today.
`The construction of the Black Sea high-frequency transmission line, which will connect Georgia and Turkey`s power systems, is a very significant project, because via this power transmitting line the export of electricity from Georgia will grow,` Baindurashvili said.
It should be noted that 25 million EURO from the 100 mln credit is a grant, and 75 million is a long-term loan.