Georgia accepts seven out of eight conditions set by Consortium Anaklia

Business Materials 22 May 2019 11:26 (UTC +04:00)

Baku, Azerbaijan, May 22


Seven out of eight conditions, set by investors of the Anaklia port project to the state of Georgia, are accepted, according to the General Director of the consortium JSC Anaklia Development, Trend reports citing Accent News.

Investors of the construction project of the port Anaklia port including European Bank for Reconstruction and Development (EBRD), the German Investment and Development Corporation (DEG), the Netherlands Financial Development Company (FMO) and others, presented eight conditions to the Government of Georgia, which are aimed at reducing the rights of the state, maximum insurance of consortium and also insurance of loans by the state in case of any reduction in income or risks for the investor.

The most difficult issue for negotiations with investors of the port of Anaklia in the Georgian government is the insurance of commercial risks.

After the meeting with the consortium of JSC Anaklia Development, international institutions of investors of Anaklia port and government representatives on May 21, Maya Tskitishvili, Minister of Regional Development and Infrastructure, said that the investor’s business risks cannot be insured.

According to Levan Akhvlediani, negotiations on the remaining issue will continue.