Georgia turns to Japanese financing for infrastructure projects

The Study offered 43 specific recommendations to how to develop Georgia's capital market. Photo by N. Alavidze/, 10 Jan 2017 - 17:05, Tbilisi,Georgia

In a bid to attract 3.5 billion GEL in investments for infrastructure projects over the next four years, Georgia plans to seek aid from Japanese financial institutions.

Meeting today with Japanese Minister of Land, Infrastructure, Transport and Tourism Ryosei Tanaka, Georgian Minister of Infrastructure Zurab Alavidze raised the question of Georgian - Japanese cooperation on infrastructure projects.

25 years have passed since the establishment of diplomatic ties between [Georgia and Japan] and I am glad to be here in Tbilisi for the first time… my country attaches great importance to its relationship with Georgia”, said Tanaka.

He hoped this visit would foster Georgia - Japan relations in different fields.

Last year Georgia and the Japan International Cooperation Agency (JICA) signed a financial agreement confirming Japan’s commitment to helping Georgia upgrade its main highway connecting the eastern and western parts of the country.

Per the deal, Georgia received $38 million from Japan to build the Zestaponi - Kutaisi - Samtredia section of the East - West Highway – the country’s main transport artery.