Georgia has signed a $372 million loan agreement with the International Bank for Reconstruction and Development (IBRD) to support transport infrastructure upgrades under the Trans-Caspian Transport Corridor – Georgia Accessibility and Transport Improvement Project.
The agreement was signed by Finance Minister Lasha Khutsishvili and World Bank Regional Director for the South Caucasus Roland Price.
The funding forms part of a wider project worth approximately $751 million. In addition to the World Bank’s $372 million contribution, Georgia is seeking $175 million from the Asian Development Bank (ADB) and $182 million from the Asian Infrastructure Investment Bank (AIIB).
The project includes the purchase of electric locomotives for Georgian Railways, construction of electrical substations, and institutional strengthening of the railway operator. It also envisages the construction of road sections connecting Badiauri and Chalaubani, Chalaubani and Bakurtsikhe, and Gurjaani and Telavi, along with transport interchanges, overpasses, bridges, road safety measures, and improvements in the road sector.
The project will be implemented by Georgian Railways and the Roads Department.
A separate project agreement between Georgian Railways and the IBRD was also signed by Georgian Railways Director General Lasha Abashidze and Roland Price.
Officials say the investments in railway and road infrastructure will help increase the efficiency of the Middle Corridor by improving the speed and safety of cargo transportation, strengthening supply chains, and supporting Georgia’s long-term economic growth.
