US Embassy in Georgia says the US International Development Finance Corporation (DFC) has signed a second loan agreement with PACE Group worth $25 million to support the expansion of the new seaport of Poti.
The funding will be used to complete construction of the second berth at the port, which is expected to significantly increase bulk cargo handling capacity.
The announcement says the project will raise the port’s capacity by an additional 1 million tons per year, strengthen critical infrastructure, and improve the safety and efficiency of trade along the Trans-Caspian Corridor.
The agreement follows earlier cooperation between DFC and PACE Group, under which a $50 million loan was provided in 2020 for the development and construction of the new Poti seaport terminal.
DFC is the US government’s international development finance institution, investing in projects aimed at supporting economic growth in partner countries.
