BAKU, Azerbaijan, September 28. The Asian
Infrastructure Investment Bank (AIIB) and, Georgia have signed a
financing agreement for 158.42 million euro (about $182 million) to
improve transport connectivity along the Trans-Caspian Transport
Corridor (Middle Corridor).


According to AIIB, the financing will support the Trans-Caspian
Transport Corridor – Georgia Accessibility and Transport
Enhancement Project, which aims to improve road connectivity in
Georgia's Kakheti region and strengthen links with national and
cross-border trade routes.


The project will finance 67.4 kilometers of climate-resilient
road infrastructure in eastern Georgia, including two new four-lane
sections between Badiauri and Bakurtsikhe and the 36.6-kilometer
Gurjaani-Telavi section.


The upgraded roads will improve connections between the
Azerbaijan border, the East-West Highway and Black Sea ports,
strengthening Georgia's role along the Trans-Caspian Transport
Corridor.


More than 900,000 people are expected to benefit directly from
improved road safety, shorter travel times and better access to
markets, services and trade routes.


The project will also support the development of a National
Highway Control Centre and an Intelligent Transport System, as well
as climate-informed road management and planning. Analytical
support for future transport investments and assistance for rural
women entrepreneurs in Kakheti are also included in the
project.


“AIIB helps develop more connected, reliable and resilient
end-to-end corridors through selective investments in critical
links. This investment supports the Trans-Caspian Transport
Corridor and contributes to more efficient and resilient
connectivity between Asia and Europe,” AIIB Chief Investment
Officer for Public Sector (Region 2) and Project and Corporate
Finance Clients (Global) Konstantin Limitovskiy said.


Georgian Finance Minister Lasha Khutsishvili said the agreement
would contribute to improving the efficiency of the Middle Corridor
and developing Georgia's transport infrastructure.







The agreement was signed on the sidelines of AIIB's 11th Annual
Meeting in Doha, Qatar.


The project, co-financed by the World Bank as the lead
co-financier, has an estimated total cost of $362.14 million.


Georgia has been an AIIB member since 2017. Following the new
project, AIIB's portfolio in Georgia will comprise nine projects
totaling about $848.6 million across transport, health
infrastructure, sustainable finance, energy and economic
resilience.


Meanwhile, Deputy Economy and Sustainable Development Minister
Vakhtang Tsintsadze said at the second Azerbaijan International Investment
Forum in Baku that Georgia is one of the key links in the Middle
Corridor.


"We are working to upgrade the majority of our
infrastructure—particularly critical infrastructure—essential for
the Middle Corridor to operate at its full capacity. Once this
highway project is completed, the transit time from Rikoti to Sarpi
will be reduced from eight hours to four. A significant aspect of
the railway modernization is that the project has already been
completed, cutting freight transit time from 24 hours to 12.


I must also mention the Anaklia deep-sea port, a key element of
the Middle Corridor, which is set to begin operations in 2029. In
its first phase, the Anaklia port will have the capacity to handle
up to 600,000 TEUs of containers and 10 million tons of dry cargo,"
he forecasted.


The deputy minister added that all this infrastructure is
intended to increase the Middle Corridor's throughput capacity and
support its efficient operation.