The U.S. International Development Finance Corporation (DFC) has signed a second loan agreement worth USD 25 million with PACE Group.

According to the US Embassy’s statement, the funding will be used to complete the construction of the second berth of the new Poti Sea Port, which will significantly increase bulk cargo processing capacity.

"As a result of the project's implementation, the port's throughput capacity will increase by an additional one million tons per year, critical infrastructure will be strengthened, and trade along the Trans-Caspian Corridor will become even safer and more efficient.

This project builds on the successful cooperation between DFC and PACE Group, under which a USD 50 million loan was allocated in 2020 for the development and construction of the new Poti Sea Port terminal.

DFC is the U.S. government`s international investment agency, whose investments ensure solid economic results for American taxpayers and promote the sustainable economic development of U.S. allies and partners", - reads the statement.