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Friday, July 28, 2017

EBRD support helping open Georgia to global markets

Two airports and a seaport in Georgia that have received financing from the European Bank for Reconstruction and Development (EBRD) are helping open up the country to international markets, an EBRD report said Friday.

International airports in Tbilisi and Batumi received $25.9 million in financing in order to construct new facilities, including a new international terminal at Tbilisi, renovate runways and purchase new equipment. The improvements have allowed increased traffic into and out of the country.

The Poti seaport, which was privatized in 2008, received $8 million in financing from the bank. The funds were used to renovate berths and to support modernization projects.

“We work closely with clients to deliver real-world infrastructure solutions wherever they are – at the urban, regional and national levels," EBRD Managing Director for Infrastructure Thomas Maier said.

After EBRD support, the transportation sector has begun seeing an influx of foreign investors from the United Arab Emirates, Denmark and Turkey.