Georgia: Batumi Bypass Road Project (AIIB-000021)

Countries
  • Georgia
Where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Infrastructure Investment Bank (AIIB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
A
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jun 15, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Georgia
The holder of the loan, grant, or other investment.
Sectors
  • Transport
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 114.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 315.20 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ AIIB website

Updated in EWS Nov 8, 2017


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Project Description
According to AIIB documents, this project will finance the construction of a new two-lane 14.3 km long highway to provide a bypass to the Batumi port city (second largest city in Georgia). The road will be constructed on a new alignment, which passes through a number of mountainous settlements. Due to hilly nature of the terrain, this stretch of road requires construction of 5 tunnels and 19 bridges over rivers and valleys. Additionally, the controlled-access highway will have 4 grade separated interchanges to regulate traffic ingress/egress. The Project will also finance construction supervision and quality assurance services associated with the civil works including specialized structural and geotechnical works.
Investment Description
  • Asian Infrastructure Investment Bank (AIIB)
The AIIB will invest $114 USD million. The project is estimated to cost $315.2 USD million.
Contact Information
Contact Points AIIB: Project Team Leader Mr. Ghufran Shafi Project Team Leader/Senior Investment Operations Specialist Tel: +86 10 8358 0171 E-Mail: gshafi@aiib.org Asian Development Bank (ADB): Mr. Dong Soo Pyo Lead Professional (Transport) Tel : +632 632 5167 Email: dspyo@adb.org Borrower: Ms. Mzia Giorgobiani Deputy Head of Public Debt and External Financing Department, Ministry of Finance Tel: +995 32 2261444 Email: info@mof.ge Implementation Agency: Mr. Zaza Simonia Deputy Chairman, Roads Department of Georgia Tel: +995 32 376216 E-Mail: zaza.simonia@georoad.ge ACCOUNTABILITY MECHANISM OF AIIB In addition, the AIIB has a Bank Oversight Mechanism. According to AIIB's policies, "people who believe they have been or are likely to be adversely affected by a failure of the Bank to implement the ESP may also submit complaints to the Bank's oversight mechanism in accordance with the policies and procedures to be established by the Bank for such mechanism." However, at the time of writing, it is unclear what the exact scope and function of this Oversight Mechanism will be.