14 Creditor Financed Projects that Did Not Spent Money Received in 2018

In Georgia, the majority of capital projects are financed by foreign credit resources. The financiers of large investment projects are mainly international organizations, such as EBRD, World Bank, EIB, and so on.

70% of Georgia’s external state debts are owed to international organisations, among which the largest share (4.9 billion GEL) is owed to the World Bank.

The timely spending of money loaned is particularly important under those circumstances where commitment fees are incurred when money has not been spent.

Nevertheless, in the majority of the cases of money allocations in 2018 the rate of due spending of money is quite low. In the case of 14 projects the money received from creditors has not been spent at all.

Specifically, these 14 projects are:

The construction of the bridge over the river Debeda (EBRD)

2018 plan - 4,200,000 GEL

Actual execution of 12 months - 0%

Tbilisi-Senaki-Leselidze road, Dzirula - Argveti section reconstruction -(JICA)

Plan for 2018 - 52,450,000 GEL

Actual execution during 12 months - 0%

The construction of the Rustavi-Red Bridge section of the Tbilisi-Red Bridge (Border of the Republic of Azerbaijan) km22- 57km road (EIB)

Plan for 2018 - 17,350,000 GEL

Actual execution of 12 months - 0%

Construction-modernization of Algeti-Sadakhlo motorway (EIB)

Plan for 2018 - 17,350,000 GEL

Actual per of 12 months - 0%

Construction of motorway and tunnel (ADB) on the Kvesheti-Kobi section of Mtskheta-Stepantsminda-Larsi highway

2018 plan - 43,175,000 GEL

Actual execution during 12 months - 0%

Georgian Transportation Communications (EIB)

2018 plan - 7,600,000 GEL

Actual execution of 12 months - 0%

Construction of 20km-50km Lochini-Sagarejo section of Tbilisi-Bakurtsikhe-Lagodekhi highway (EIB)

2018 plan - 16,400,000 GEL

Actual execution of 12 months - 0%

Municipal Infrastructure Renewal Project of Georgia (EIB)

2018 Plan - 800,000 GEL

Actual execution of 12 months - 0%

Reconstruction and Rehabilitation Project of Chiatura Cableway (Government of France)

2018 Plan - 1,000,000 GEL

Actual execution during 12 months - 0%

Kobuleti Wastewater Project (EBRD, ORET)

2018 plan - 2,500,000 GEL

Actual execution during 12 months - 0%

Kvemo Kartli Waste Management Project (EBRD, SIDA)

Plan 2018 - 550,000 GEL

Actual execution during 12 months - 0%

Agrocredit (EIB)

2018 plan - 10,000,000 GEL

Actual execution during 12 months - 0%

Rehabilitation of Tbilisi Public Schools and Enhancing Energy Efficiency Project (E5P, CEB)

2018 plan - 10,000,000 GEL

Actual execution during 12 months - 0%

Adjara Solid Waste Project (EBRD)

2018 plan - 4,000,000 GEL

Actual execution during 12 months - 0%

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