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4 months ago
ADB approves $114 mln loan to improve Georgia transport links
March 29, 2017 / 9:24 AM / 4 months ago

ADB approves $114 mln loan to improve Georgia transport links

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TBILISI, March 29 (Reuters) - The Asian Development Bank (ADB) has approved a $114 million loan for build a new road in Georgia and help improve the former Soviet republic's transport links, the bank said on Wednesday.

The loan would finance construction of a 14.3 km bypass around the port city of Batumi on Georgia's Black Sea coast which lies on an international trade route, the bank said in a statement. Funds would also support maintenance of other roads.

"Georgia is well poised to become a stronger transport and logistics hub for the Caucasus region — something that could help propel the country's growth and development," said Yesim Elhan-Kayalar, ADB country director in Georgia.

"ADB is committed to play a seminal role in improving the country's transport connectivity and the sustainability of its road network through this project," he said. (Reporting by Margarita Antidze; Editing by Edmund Blair)

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