Georgia is considering working with the Asian Development Bank (ADB) to help finance the construction of the land infrastructure at the Anaklia deep-sea port, according to Finance Minister Lasha Khutsishvili. The minister, who is attending the 58th annual meetings of the ADB in Milan, shared the update in an interview with InterpressNews.

In addition to the ADB, Khutsishvili said other financial institutions could also be involved in supporting the project’s land infrastructure component. However, he highlighted the ADB’s current interest in extending a sovereign loan to Georgia, allowing the state to retain a controlling interest in the port’s land infrastructure development.

“The Anaklia port is financed from the budget. At the first stage, we have started the development of water infrastructure. 220 million GEL has already been allocated for this. The necessary funds will be added to this amount in subsequent years. It is important to note that the water infrastructure will be 100% state-owned. The second part includes the land infrastructure of the Anaklia port, where the state is looking for a partner. This partner will enter into 49%, and the state will have a controlling stake of 51%,” Khutsishvili explained.

He elaborated that the government is open to partnering with multiple financial organizations to secure financing for the project. The Asian Development Bank, in particular, has expressed willingness to provide sovereign loan financing to the state.

“In the construction of land infrastructure, we may cooperate with, among others, the Asian Development Bank or other financial institutions that are willing. For example, the ADB is willing to allocate funding to the state,” Khutsishvili said.

However, Khutsishvili clarified that the ADB would not directly participate in the ownership or operation of the Anaklia Port project. Instead, the ADB could issue a sovereign loan to Georgia, with funds subsequently allocated from the state budget to support construction.

“The Asian Development Bank will not be a party to the Anaklia Port project; in particular, the ADB may issue a sovereign loan to Georgia for land infrastructure and then allocate the necessary funds for the project from the state budget,” he said.

Khutsishvili emphasized the national importance of the Anaklia Port, framing it as a critical state-controlled initiative designed to strengthen Georgia’s logistics and trade capabilities.

“I would like to note that the Anaklia port is a purely Georgian port and it cannot be called by any other name. In general, we have such cooperation with the ADB and other financial institutions – in all projects that are implemented with sovereign financing, the guarantor is the state, the state receives loan financing and, accordingly, these funds are spent from the state budget. The Asian Development Bank will not be a participant in the project,” the minister reaffirmed.

Currently, construction of the maritime infrastructure is being carried out by Belgian company Jan De Nul, which won an international tender to execute the works. The company, known for its expertise in large-scale maritime projects, will be responsible for dredging the port’s water area and building the breakwater. According to the Ministry of Economy, these works are crucial to enabling the port to receive large vessels by its planned opening in 2029.

The Anaklia Deep Sea Port, once completed, is expected to play a transformative role in Georgia’s economy by positioning the country as a key transit hub along global trade routes.

Originally reported by IPN.