The U.S. International Development Finance Corporation (DFC) has signed a second $25 million loan agreement with PACE Group. The financing will support the completion of the second berth at the New Sea Port of Poti, significantly increasing the port’s bulk cargo handling capacity.

According to the U.S. Embassy in Georgia, the project will increase the port’s annual throughput capacity by an additional one million tons, strengthen critical infrastructure, and make trade along the Trans-Caspian Corridor safer and more efficient.

“This project builds on the successful partnership between DFC and PACE Group. In 2020, DFC provided a $50 million loan to support the development and construction of the New Sea Port of Poti terminal.

DFC is the U.S. Government’s development finance institution. Its investments deliver strong economic returns for American taxpayers while supporting sustainable economic development among U.S. allies and partners,” the embassy’s statement said.