The US International Development Finance Corporation (DFC) has signed a new $25 million loan agreement with PACE Group to support the completion of the second berth at the New Sea Port of Poti in Georgia, strengthening one of the South Caucasus’ key logistics hubs.

The financing will help finalize construction of the new berth, significantly increasing the port’s bulk cargo handling capacity, The Caspian Post reports via Georgia Online.

Once completed, the project is expected to add an additional one million tons of annual throughput capacity, enhancing critical transport infrastructure and improving the efficiency and security of trade along the Trans-Caspian International Transport Route, also known as the Middle Corridor.

The investment builds on an earlier partnership between DFC and PACE Group. In 2020, DFC provided a $50 million loan to support the development and construction of the New Sea Port of Poti terminal.

DFC, the US government's development finance institution, invests in projects aimed at supporting sustainable economic growth in partner countries while advancing strategic economic interests.