Georgia has secured two major financial commitments this week, with one aimed at easing road congestion around the capital and the other at strengthening the country's banking safety net.
The Asian Development Bank (ADB) has approved a USD 250 million loan to fund the construction of a bypass road around Tbilisi. The project involves building a four-lane highway spanning nearly 19 kilometres from Tbilisi International Airport through Lochini to Rustavi.
The bypass forms part of Georgia's East-West Highway and lies within CAREC Corridor 2, a transport route linking Central Asia with Europe. Once completed, it is expected to divert through traffic away from the capital, reducing congestion and travel times while improving freight reliability for exporters and transit operators.
ADB Country Director for Georgia Lesley Bearman Lahm said the project reflects the bank's broader strategy of helping Georgia develop as a regional transport hub.
The loan adds to more than USD 2.3 billion that the ADB has already committed to Georgia's road network, including the Batumi and Kobuleti bypasses and the Kvesheti–Kobi highway.
Separately, the World Bank has approved a USD 35 million credit line for Georgia's Resolution Fund, a mechanism designed to step in if a commercial bank encounters serious financial difficulties.
Rather than funding day-to-day operations, the credit line will serve as a contingency source of financing and will only be used if the National Bank of Georgia formally decides that a bank should be restructured instead of liquidated. The approach is intended to protect depositors and maintain financial stability without resorting to bank closures.
The loan agreement was signed by Finance Minister Lasha Khutsishvili and World Bank Regional Director for the South Caucasus Roland Price.
National Bank of Georgia President Natia Turnava said the approval confirms that Georgia's bank resolution framework aligns with international standards.
Read more from Georgia:
Ukrainian President Volodymyr Zelenskyy's aircraft was nearly struck by a drone while departing Moldova on ...
Iran’s Revolutionary Guards (IRGC) said on Wednesday they attacked two U.S. vessels and eight oil tankers in the Persian Gulf, calling the st...
Georgia’s International Maritime Forum has closed in Batumi with officials setting out investment targets, timelines and technical plans aime...
Four people were killed, including a child, in Ukrainian strikes on the Russian port city of Novorossiysk overnight, according to the governor of the Krasnodar region. Ukraine's drone forces commander, Robert Brovdi, said Russian military ships were destroyed in the attacks.
A TV channel was struck during a live broadcast on Tuesday, Ukrainian President Volodymyr Zelenskyy said, as Russian strikes on Kyiv killed at least three people, the city's Mayor Vitali Klitschko said. Meanwhile, drones hit civilian infrastructure in Russia's southwestern Saratov region.
U.S. Central Command (CENTCOM) said its forces destroyed five Iranian crude oil carriers after the Islamic Revolutionary Guard Corps (IRGC) allegedly launched two ballistic missile attacks against a U.S. Navy warship over the past two days.
Wildfires have broken out in Türkiye’s Antalya province, forcing hundreds of people to evacuate as strong winds fuelled the flames.
Indonesia has reopened Jakarta's main airport and four others after volcanic ash from Mount Anak Krakatau forced widespread flight cancellations, though fresh eruptions have kept authorities on alert.
Kazakhstan is stepping up investment in the Middle Corridor as rising freight volumes and demand for more diverse trade links drive the rapid expansion of the route connecting Asia and Europe.
Georgia’s International Maritime Forum has closed in Batumi with officials setting out investment targets, timelines and technical plans aimed at expanding the Middle Corridor and strengthening the country’s role in global trade.
Iran says it has delivered on its promise of a “faster, heavier and more painful” response to Washington, striking U.S. bases, warships and commercial vessels early on Wednesday.
Central Asian foreign ministers have marked 20 years since a landmark nuclear-free treaty, reaffirming their commitment to regional security, nuclear non-proliferation and disarmament.
Saudi Arabia’s international leisure tourism industry is forecast to grow by 93 per cent between 2025 and 2030, as the kingdom expands beyond religious travel. The figures were presented during WTM Spotlight Riyadh, where industry leaders discussed the growing tourism market.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment