en.Wedoany.com Reported - The World Bank Group has approved a $372 million financing package to support Georgia in advancing the upgrade of the Trans-Caspian Transport Corridor. The initiative aims to enhance the country's role as a transit hub in Eurasian trade.

This financing is part of the TC-GATE (Georgia Connectivity and Transport Enhancement) project, with a total estimated value exceeding $750 million. In addition to the World Bank, the Asian Infrastructure Investment Bank (AIIB) and the Asian Development Bank (ADB) will also provide co-financing. The project covers improvements in rail freight, road works, and nationwide transport sector reforms.

In the railway sector, funds will be used to procure new energy-efficient electric locomotives to replace aging equipment. The World Bank stated that the upgrade aims to increase locomotive availability to 95%, boost railway revenue by 20%, and achieve a net emission reduction of over 2.3 million tons. These measures are designed to enhance the operational efficiency and financial sustainability of Georgian Railway.

Road works will focus on the Kakheti region, including the construction of two new four-lane road sections between Badiauri, Chalaubani, and Bakurtsikhe, as well as a new highway connecting Gurjaani and Telavi. Upon completion, travel time between Telavi and the Black Sea port of Poti is expected to be reduced by approximately 43 minutes. The project will also support digital road asset management through the National Highway Control Center and introduce intelligent transportation systems to improve safety and climate resilience.

Rolande Pryce, World Bank Regional Director for the South Caucasus, believes this investment will help Georgia realize its full potential as a transit hub between Asia and Europe. Georgian Finance Minister Lasha Khutsishvili noted that the project will solidify Georgia's position as a reliable gateway for Eurasian trade. It is estimated that over 900,000 people will directly benefit, and the project will also create economic opportunities for women entrepreneurs along the corridor.

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