ADB OKs loan for Georgian bypass road project
The Asian Development Bank (ADB) has approved a $114 million loan for Georgia’s Batumi Bypass Road Project, the Bank reported.
ADB is also expected to manage and administer up to $114 million
in additional financing for the project provided by the Asian
Infrastructure Investment Bank (AIIB). This is the first ADB
project to be co-financed with another development partner in
Georgia, and the third project to be co-financed by ADB and
AIIB.
Since 2007, ADB has mobilized more than $2.1 billion in public and
private sector financing operations for Georgia.
Batumi Bypass Road Project envisages construction of a new two-lane
14.3 km long highway to provide a bypass to the Batumi port city
(second largest city in Georgia).
The new two-lane bypass road, starting from the Senaki-Poti-Sarpi
road and ending at the juncture of the existing Batumi-Akhaltsikhe
road, is an integral part of the East-West Highway.
Batumi Bypass Road project, estimated to cost $315 million, is
expected to be implemented during the period from July 2017 to June
2023.
As part of the financing, performance-based maintenance contracts
will be implemented for the routine and periodic maintenance of
about 200 km of international and connecting secondary roads,
according to the message.
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