The U.S. International Development Finance Corporation (DFC) has signed a new loan agreement worth $25 million with PACE Group. The funds will be used to continue the construction of the second berth of the new seaport in Poti.
According to the U.S. Embassy in Georgia, the project's implementation will increase the port's throughput capacity by approximately 1 million tons of cargo per year. The main focus is on expanding bulk cargo handling capabilities and strengthening the region's logistics infrastructure.
The project is a continuation of previously initiated cooperation between the parties. In 2020, DFC already provided $50 million in financing for the construction and development of the terminal in Poti Port, which laid the foundation for the current expansion phase.
DFC notes that investments in port infrastructure are aimed at increasing the efficiency of trade along the Trans-Caspian Transport Corridor and strengthening logistics chains between regions. It is also emphasized that the corporation operates as an investment institution of the U.S. government, supporting international projects with economic impact.