Posted: 9 months ago

EBRD Shows Willingness to Engage in Anaklia Project Implementation

‘We are ready to engage in Anaklia project implementation if we see a valuable commercial solution”, EBRD first vice president Jurgen Rigterink told the Analytics in his exclusive interview that will be broadcast by TV1 on September 27.

The EBRD first vice president has already met with Georgian Prime Minister Giorgi Gakharia and the Parties discussed the Anaklia project importance.

“Yesterday I held meetings in Armenia with domestic government officials and they assured us that this is a valuable project for not only Georgia, but also the whole region”, EBRD vice president told the Analytics.

As to the type of EBRD’s engagement in Anaklia Seaport project implementation and what the valuable commercial solution implies, the EBRD’s first vice president noted that he cannot unveil details yet.

‘First of all, we should know what the Government decides and what the project sponsors decide”, Jurgen Rigterink noted and added:

“In ideal situation, EBRD’s support may not be necessary, because our bank is a development bank. EBRD engages in business only if the commercial market cannot employ the existing potential. Need for additional engagement – we call this situation in this way. We have told the Prime Minster that we ready to play our role in implementing this important project if the commercial market gap cannot be replenished”.

We remind you that Anaklia Development Consortium must submit a final agreement with investors up to October 154. The Government also says that the Consortium must also tackle the own capital replenishment issue, replace Conti Group and submit a final agreement with the Bank.