Georgia is building $170m two logistic centres to grow export potential
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Two new logistic centres will be built in Georgia’s third largest city Kutaisi and in the village Kumisi, near capital of Tbilisi to cement Georgia’s reputation as a logistics hub country.
The investment amount of both logistic centres together is evaluated at $170 million.
Georgia’s Economy Minister Dimitry Kumsishvili stated expressions of interests have already been announced for the construction of these two logistic centres, which will employ 800 people.
The development of logistics centres is very important for us in order to create additional value for the transport sector, to connect regions to each other and to increase the country's transport potential,” said Kumsishvili.
The World Bank will also be involved in the project. With its financial support a feasibility study of development of two modern logistic centres is already done. The document was created by German company Dornier Consulting International. Based on this document an open tender is announced to attract the investors.
With the financial support of the World Bank, the National Strategy of Logistics for Georgia (2017-2026) and its Action Plan (2017-2020) will be developed. French consulting company EGIS International is developing the documents, which is due to be completed this year and adopted in 2018.
The World Bank is continuing to help Georgia improve its main transport artery, the East-West Highway, by offering €16.9 million.
Georgia and the World Bank are celebrating 25 years of partnership today.
Georgia will receive a credit line to the amount of €44.6 million from the International Bank for Reconstruction and Development (IBRD).
The World Bank continues supporting Georgia’s economic reform program in key areas by providing a loan of €47.2 million.
The production of bitcoins and blockchain technologies are very well developed in Georgia and furthermore, the country is among the leaders in this field, believes a World Bank delegation to Georgia.
A special agrozone will be created in Georgia’s Imereti region to help farmers take agribusiness to the next level and export high-standard products to European Union (EU) markets.
The World Bank is ready to support the successful implementation of current and planned reforms by the Government of Georgia, says the Executive Director of the World Bank Group and the bank’s representative in Georgia Frank Heemskerk.
The World Bank Group Board of Executive Directors has endorsed the 2019-2022 Country Partnership Framework (CPF) for Georgia, which aims to support sustainable and inclusive growth and improve living standards in the country.