Asian Development Bank approves $20m to save Batumi’s coastline
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A section of coastline in Georgia’s Black Sea town Batumi where erosion is threatening beachfront, roadways, bicycle lanes and buildings will be soon be corrected and restored.
The Asian Development Bank (ADB) approved $20 million USD (about 47 million GEL) loan to the coastal protection project that spans five kilometres along the Batumi coastline.
This investment will help halt coastal erosion at one of the country’s most popular summer seaside resort areas,” said Anand Chiplunkar, director of the Urban Development and Water Division of ADB’s Central and West Asia Department.
This was the Bank’s fourth loan to Georgia under the $300 million USD Sustainable Urban Transport Investment Program, a multi-tranche financing facility approved by ADB in 2010.
Bertrand Goalou, Urban Development Specialist in ADB’s Central and West Asia Department, said the project will support tourism and benefit urban residents and the local economy.
This investment, financed from ADB’s commercial resources, complements ADB’s substantial support to Georgia for water supply and sanitation, road and energy infrastructure,” said ADB’s Georgia-based country director Kathie Julian.
ADB has supported Georgia since 2007. As of 2014, ADB assistance to Georgia totalled more than $1.6 billion USD, including approved loans and technical assistance grants.
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