EBRD lends €3 million to Gebrüder Weiss to expand logistics terminal near Tbilisi

The EBRD lent €3 million to Gebrüder Weiss to expand a logistics terminal near Tbilisi. Photo: EBRD

Agenda.ge, 15 May 2024 - 14:16, Tbilisi,Georgia

The European Bank for Reconstruction and Development on Wednesday lent €3 million to Gebrüder Weiss, an Austrian transport and logistics company, to expand a logistics terminal near the Georgian capital city of Tbilisi.

The Bank said the company was currently facing a surge in both traffic volume and customer requirements and seeking to enlarge its terminal, which was built in 2013 with EBRD funding.

The Bank added the new terminal facilities would be built in accordance with latest European Union energy performance requirements for buildings, supporting Gebrüder Weiss’s resource and energy-efficiency goals and bringing “more modern and sustainable” infrastructure to the Georgian market.

Georgia is considered an important transit hub for the Caucasus region, and its logistics and transport industry has grown significantly over the past decade. The country’s transit potential is expected to grow further, as the country’s economic outlook is positive”, it said.

The Bank added it had invested nearly €5.3 billion in 296 projects in financial, corporate, infrastructure and energy sectors in Georgia.