en.Wedoany.com Reported - The U.S. International Development Finance Corporation (DFC) and Georgia's PACE Group signed a second $25 million loan agreement on June 25, 2026, to complete the construction of the second berth at the New Poti Seaport. The project is expected to increase the port's annual cargo handling capacity by 1 million tons and enhance the trade security and efficiency of the Trans-Caspian Corridor.
The U.S. International Development Finance Corporation (DFC) is the development finance institution of the U.S. government, dedicated to providing financing support for development projects in emerging markets, advancing U.S. foreign policy objectives, and promoting overseas development. PACE Group is a leading investment and development company in Georgia, with operations spanning ports, energy, and infrastructure. Located on Georgia's Black Sea coast, Poti Port is one of the country's largest ports and a vital hub connecting Central Asia with Europe. The Trans-Caspian International Transport Route (also known as the "Middle Corridor") is a multimodal transport corridor linking China and Europe via the Caspian Sea, in which Poti Port plays a key role.
This loan represents a further deepening of cooperation between the U.S. DFC and PACE Group. The two parties had previously signed a $50 million loan agreement in 2020 for the development and construction of the New Poti Seaport terminal. The additional $25 million will be specifically allocated for the construction of the second berth, which, upon completion, will significantly enhance the port's bulk cargo handling capacity. Mariam Kvrivishvili, Minister of Economy and Sustainable Development of Georgia, stated that after the completion of the Poti Port Phase II project, the port's throughput capacity will increase to 3 million tons, and it is expected to create 50 new jobs. Georgian Prime Minister Irakli Kobakhidze also acknowledged PACE Group's capability to implement such large-scale projects in collaboration with international partners.
Poti Port is a crucial logistics hub for Georgia and the broader Caucasus region. The construction of the second berth at the New Poti Seaport holds significant strategic importance for enhancing Georgia's logistics capacity and regional connectivity. This project will not only boost Poti Port's throughput capacity but also solidify Georgia's position as a key node on the Trans-Caspian International Transport Route, providing stronger support for regional economic development and international trade.
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