(MENAFN- Trend News Agency) TBILISI, Georgia, May 2. European InvestmentBank (EIB) expects to finalize the assessment of the Black Seasubmarine internet cable project in the near future, Vice-Presidentof the European Investment Bank Teresa Czerwińska said, Trend reports.
She made the statement during the "Enhancing Connectivity:European Connectivity (Renewable Energy and Digital Connectivity)Middle Corridor (Reshaping Euro-Asia Connectivity)" and"Collaborative Fintech Community: Building on the Middle CorridorMomentum" panel discussions at the 57th ADB Annual Meeting inTbilisi.
"We have a successful track record of raising private funding high-speed internet access is critical for secure regionalconnectivity. We are now investigating a concept for underwaterdigital connectivity in partnership with Georgia and Romania," shesaid.
Czerwińska noted that the tech market in the region is growingrapidly and the demand for this kind of services is high.
"We are currently assessing the entire project cost. The projectis extremely complicated, not only from a technical aspect, butalso in terms of securing private funding and structuringfinancing. I anticipate that we will complete the projectevaluation within the next few months," she said.
To note, the theme for the 57th Annual Meeting to be held fromMay 2 to May 5 is“Bridge to the Future.”.
The opening session of the Board of Governors will take place onMay 4. The opening session marks the official start of the annualmeeting. It is a high-profile event attended by the guest of honorfrom the host country. Remarks will be made by ADB PresidentMasatsugu Asakawa and the Minister of Finance of Georgia and Chairof the ADB Board of Governors, Lasha Khutsishvili.
The annual meeting is an opportunity for ADB governors to considerdevelopment issues and challenges facing Asia and the Pacific thousand participants, including finance ministers, centralbank governors, senior government officials, members of the privatesector, representatives of international organizations and civilsociety organizations, youth, academia, and the media, regularlyjoin the meeting.
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