Georgian State Electrosystem Will Implement Project Studying the Black Seabed

A loan agreement has been signed between Georgia and the International Bank for Reconstruction and Development (IBRD).
Minister of Finance Lasha Khutsishvili and Rolande Pryce, the World Bank Regional Director for the South Caucasus, signed the loan agreement for the geophysical and geotechnical study of the Black Sea seabed. Additionally, Giorgi Gigineishvili, Director General of Georgian State Electrosystem, and Rolande Pryce signed the project agreement. The event was also attended by Deputy Minister of Economy and Sustainable Development Vakhtang Tsintsadze and Deputy Minister of Finance Ekaterine Guntsadze.
The project, which will be implemented by the Georgian State Electrosystem, includes the geophysical and geotechnical study of the Black Seabed, as well as technical assistance in institutional, legal, and financial matters.
For the implementation of the project, financial resources amounting to 32,400,000 euros were allocated by IBRD as a loan. The study of the Black Seabed will be conducted within the framework of the Black Sea Submarine Cable Project.
The Black Sea Submarine Cable Project involves the installation of a high-voltage underwater transmission network, aimed at connecting the electric power systems of Georgia and Europe.