BAKU, Azerbaijan, October 29. To date, AIIB has approved five significant projects in Georgia, totaling nearly $400 million, including the recently completed Batumi Bypass Road, said Konstantin Limitovskiy, Vice President of the Asian Infrastructure Investment Bank (AIIB), in an exclusive interview with Trend.
"Together with the Government of Georgia, we are also preparing the Tbilisi Metro Modernization Project," Limitovskiy stated. "This initiative will enhance the efficiency, reliability, and sustainability of the metro system through the acquisition of modern rolling stock."
In response to the COVID-19 pandemic, AIIB took proactive measures by providing financing aimed at strengthening Georgia’s public health preparedness. Additionally, the bank collaborated with TBC Bank to deliver liquidity to small and medium-sized enterprises (SMEs) affected by the economic downturn, aiding the country’s recovery from the pandemic's adverse effects.
Highlighting the commitment to sustainability, AIIB invested $30 million in the issuance of sustainability bonds by Georgia Capital JSC in the Georgian capital markets, aimed at supporting green investments. "Our partnership with the Government of Georgia dates back to the very first year of AIIB operations and has been key to the success of major infrastructure projects, including the Batumi Bypass Road," Limitovskiy remarked.
He acknowledged the crucial roles played by the Ministry of Finance, the Ministry of Regional Development and Infrastructure, and the Roads Department in overcoming challenges, particularly during the global pandemic. "The Batumi Bypass demonstrates how effective this collaboration can drive transformative infrastructure projects that enhance local and regional connectivity," he added.
Looking ahead, Limitovskiy reaffirmed AIIB's commitment to collaborating closely with the Georgian government on future initiatives. "We aim to ensure that post-construction activities are completed with a focus on environmental and social sustainability. We look forward to expanding our sovereign and non-sovereign portfolios in Georgia, further enhancing the country's and the region's economic potential," he concluded.