TBILISI, March 29 (Reuters) - The Asian Development Bank (ADB) has approved a $114 million loan for build a new road in Georgia and help improve the former Soviet republic’s transport links, the bank said on Wednesday.
The loan would finance construction of a 14.3 km bypass around the port city of Batumi on Georgia’s Black Sea coast which lies on an international trade route, the bank said in a statement. Funds would also support maintenance of other roads.
“Georgia is well poised to become a stronger transport and logistics hub for the Caucasus region — something that could help propel the country’s growth and development,” said Yesim Elhan-Kayalar, ADB country director in Georgia.
“ADB is committed to play a seminal role in improving the country’s transport connectivity and the sustainability of its road network through this project,” he said. (Reporting by Margarita Antidze; Editing by Edmund Blair)