Challenge
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 at Poti, is more than 100 years old and lacked the capacity to berth large cargo vessels.
Solution and Impact
DFC financing supported the expansion and modernization of the Poti New Sea Port, which began operations in early 2022. DFC's support helped develop a new marine terminal to accommodate larger vessels up to 253 meters in length carrying up to 50,000 tons 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 is helping 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. And by moving significant volumes of wheat, grain, and fertilizer to markets in Africa, Asia, Latin America, and Europe, the port is helping bolster global food supply.