US Corporation to invest over $60m in two projects in Georgia

A delegation from the United States government’s Overseas Private Investment Corporation (OPIC) is visiting Georgia’s capital of Tbilisi to meet with local authorities and discuss two new projects for the country.

The first project concerns the opening of a 120-bed Mother and Child Medical Centre in Tbilisi, while the second project envisages the construction of new dock complex in Georgia’s Black Sea port city of Poti.

To discuss both projects, the Director General of OPIC, Kenneth Angel, met Georgia’s Economy Minister Dimitry Kumsishvili yesterday.

The Mother and Child Medical Centre in Tbilisi will be built in accordance with American standards and would serve local as well as foreign patients from Georgia’s neighbouring countries.

The total cost of the project will be $27 million, wherein OPIC will contribute $17 million of co-financing.

This would be the first Pediatric Hospital to have the Joint Commission International (JCI) accreditation, announced Georgia's Ministry of Economy.

The second project, which aims to build a new dock complex in Poti, will cost $100.5 million. The OPIC will allocate $50 million to co-finance the project.

Georgia’s Economy Minister hoped that cooperation with OPIC would continue successfully.

OPIC has been investing in Georgia since 1993. So far, the Corporation has invested over $500 million in more than 50 projects in the country.

Currently, OPIC is involved in more than 20 projects in Georgia. (Agenda.ge)