Washington, 5 June 1997 (RFE/RL) - The World Bank has approved a $52.3 million loan to Georgia to help finance rehabilitation of the Gardabani Thermal Power plant and improve reliability of the country's electric power supply.
The bank says the project includes major technical assistance to help Georgia increase its electric generating capacity and reduce shortages and interruptions throughout the entire system.
It will focus on updating the 300 megawatt generating unit at Gardabani, including establishing the Tbilsresi joint stock company which operates the plant as a commercially independent firm.
Germany is providing an additional loan of about $18.7 million with Tbilsresi raising the remaining $4.8 million needed for the project.