17.Sep .2019 22:26

ADB - "Anaklia Special Economic Zone will be a flagship project for the country and ADB"

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Asian Development Bank has updated a country partnership strategy for Georgia. The official document from ADB reads that the Anaklia Deep-Sea Port and Special Economic Zone would be flagship projects, both for Georgia and for ADB. 

ADB notes that the project provides an integrated development solution that will serve Georgia and the other regional countries.

Georgia, 2019–2023 —Developing Caucasus’s Gateway to the World - Anaklia:

"With all the effort we put in last 2 years, ADB has officially integrated Anaklia Deep Sea Port and Special Economic Zone project in its country partnership program and strategy. MOU signed and overall cooperation between Anaklia City, ADC and ADB involves different directions starting from financial support to technical assistance programs."

"In September 2018, ADB introduced a new modality and signed a memorandum of understanding with private sector counterparts to develop a $3 billion regional initiative anchored in Georgia’s Anaklia Deep-Sea Port and Special Economic Zone—a flagship project for the country and ADB. The initiative leverages all of ADB’s competencies (including sovereign and non sovereign financing, the mobilization of large-scale financing as lead syndication agent, transaction advisory services, PPPs, trade facilitation, regional connectivity and cooperation, TA, capacity development, knowledge solutions, and the mobilization of development partnerships to deliver for the client) to provide—as One ADB—an integrated development solution that will serve Georgia and the other regional countries. An interdepartmental Anaklia Regional Development Initiative Task Force has been formed and design works are underway. ADB will further develop and implement this major regional development initiative during the CPS period.”

“In September 2018, ADB signed a $3 billion memorandum of understanding with Anaklia Development Consortium LLC and Anaklia City JSC to develop a transformative, greenfield project for the region under the Anaklia Regional Development Initiative, anchored in Georgia’s Anaklia port. This initiative, that will mobilize all of ADB’s competencies in sovereign, non-sovereign and knowledge areas, will require knowledge solutions for regional integration, connectivity, and smart city development in additional to physical infrastructure and institutional development. An interdepartmental Task Force has been formed and design works are underway.”