The U.S. Embassy in Georgia said today that the U.S. Development Finance Corporation (DFC) has signed a second loan agreement worth $25 million with PACE Group for a port development program.
According to their official announcement, the financing will be used to complete the construction of the second berth of the new Poti Seaport.
The project is set to increase the port’s throughput capacity by an additional one million tons per year, strengthen critical infrastructure, and make trade along the Trans-Caspian Corridor safer and more efficient.
The Embassy added that this project builds on the successful partnership between DFC and PACE Group, which provided a $50 million loan in 2020 for the development and construction of the new Poti Seaport Terminal.