The International Finance Corporation and the European Bank for Reconstruction and Development have made initial disbursements of USD 8.5 million each, under their respective nine-year loan agreements with the Georgian Reconstruction and Development Company, to finance construction and renovation works in Georgia. Tbilisi Central, a modern shopping mall in the Central Railway Station territory, will open in autumn 2009.
This is International Finance Corporationâ€™s second investment in retail real estate projects in Georgia. The first USD 49.7million financing package was allocated to the Ras Al Khaimah Investment Authority, to build its much-publicized project, Uptown Tbilisi, in Dighomi.
Ras Al Khaimah Investment Property
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