In case of the government's request EBRD does not rule out involvement in the Anaklia port project again

13-12-2022 18:41:37 Economics

In case of the government's request European Bank for Reconstruction and Development (EBRD) does not rule out involvement in the Anaklia deep water port project again.

"Georgia needs to expand its port capacity, which is a bottleneck for swift development of the middle corridor. There are several options for expansion, which may include, amongst others, the expansion of already existing ports, development of dry ports, and the construction of the Anaklia port. The decision of which route to take rests with the Government, and should EBRD’s involvement in future projects be requested, we are ready to consider subject to the project’s bankability, as well as the compliance with the Bank’s policies and requirements," EBRD Regional Director for the Caucasus, Catarina Bjorlin Hansen told the Accent.

Georgian Prime Minister Irakli Garibashvili revealed on 12 December that the Anaklia deep water port will be built with the government’s participation, which will subsequently own 51% of it.

The Prime Minister noted that an international competition will be announced to select the partners and companies which will participate in the project.

On December 12 one of the founders of the "Anaklia Development Consortium", the leader of the "Lelo" political party Badri Japaridze noted that "a reputable investor will not implement any joint project with this government."

In January 2020 The Government of Georgia decided to terminate its contract with the Anaklia Development Consortium (ADC) . It said that "the Consortium failed to provide pre-construction and construction financial guarantees, as well as to find a real investor." ADC, which spent tens of millions of dollars on the project, constantly claimed that the authorities created artificial problems for the Anaklia project.

In 2019 the government was involved in negotiations with four major financial institutions, including EBRD regarding the port of Anaklia.

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