**Georgia to Partner with Asian Development Bank for Anaklia Port Land Infrastructure**
In a significant development, Georgia’s Finance Minister Lasha Khutsishvili has hinted that the country may collaborate with the Asian Development Bank (ADB) in constructing the land infrastructure of the Anaklia port. Speaking at the 58th annual meetings of the ADB in Milan, Khutsishvili emphasized that the state is looking for a partner to enter into a 49% stake in the land infrastructure project, while maintaining a controlling stake of 51%.
This move is part of Georgia’s larger plan to finance the Anaklia port through a combination of budgetary allocation and external funding. The government has already allocated 220 million GEL (approximately $70 million USD) for the development of water infrastructure at the site. The necessary funds will be added to this amount in subsequent years, with the state aiming to maintain full ownership of the water infrastructure.
**Cooperation with ADB and Other Financial Institutions**
While the ADB is willing to allocate funding to the state for the land infrastructure project, Khutsishvili noted that Georgia may also explore cooperation with other interested financial institutions. The Finance Minister emphasized that the Asian Development Bank will not be a participant in the Anaklia Port project, but rather provide a sovereign loan to Georgia, which can then be used to fund the land infrastructure.
This approach is consistent with Georgia’s strategy of using external funding sources while maintaining state control over key projects. As Khutsishvili pointed out, the Anaklia port will be a “Georgian clean water project,” financed from the budget and with the controlling stake in the hands of the state.
**A Major Infrastructure Project**
The construction of the land infrastructure at the Anaklia port is a significant undertaking that involves deepening the port’s water area and constructing a breakwater. The work will be carried out by Belgian company Jan De Nul, which has won an international tender to complete the project.
With the first ship expected to arrive in 2029, the completion of the land infrastructure is crucial for the Anaklia port’s operational success. By partnering with the ADB and potentially other financial institutions, Georgia aims to leverage external expertise and resources while maintaining full control over this critical infrastructure project.
Read More @ www.interpressnews.ge
