As an emerging market economy that sits at the crossroads of Europe and Asia, Georgia is seeking to bolster its position as a regional trade hub linking the Caucasus and Central Asia to Europe. But the country’s main Black Sea port, the Port of Poti, is more than 100 years old and lacks the capacity to berth large cargo vessels.
Solution and Impact
DFC financing is supporting the expansion and modernization of the Port of Poti, including the development of a new marine terminal that will be able to accommodate larger vessels up to 253 meters in length carrying up to 50,000 tonnes of cargo. The financing is also supporting additional storage facilities and transportation infrastructure including a modern hydraulic system needed to support expanded operations.
The new port will bolster trade and facilitate investment in Georgia while strengthening economic integration throughout the region and creating jobs in a rural part of Georgia that suffers from high unemployment. The project also advances U.S. interests in a region of critical strategic importance, by supporting an alternative to Russian ports used to transport goods between Europe and Central Asia.