EU to fund submarine electricity cable project via Georgia to Europe

Oliver Varhelyi, the European Union Commissioner for Neighbourhood and Enlargement Policy, on Sunday said the EU would allocate 2.3 billion euros to fund the Black Sea Strategic Submarine Electricity Cable, which will connect Georgia and the entire South Caucasus with Romania and ensure the exports of green energy to Europe. 

The EU official stressed the project would benefit both the bloc and the South Caucasus region. 

He said the total value of the EU’s Eastern Partnership initiative investment plan stood at 17 billion euros. 

Georgian Foreign Minister Ilia Darchiashvili is now in Brussels to participate in the ministerial meeting of the EaP, later on Monday  with foreign ministers from five of six members of the initiative – Armenia, Azerbaijan, Georgia, Moldova and Ukraine.

Belarus has been excluded from the meeting for its position in the Russia-Ukraine war. 

Darchiashvili said Georgia’s European integration process and prospects for closer sectoral and economic cooperation with the bloc  would be discussed at the event, as well as security challenges.