The Foreign Relations Committee reviewed the Letter Agreement of Change No. 5 to the Loan Agreement (Ordinary transactions) (Batumi Bypass Road Project) between Georgia and the ADB, dated 12 June 2017.

The issue was presented by Deputy Infrastructure Minister Mzia Giorgobiani.

The amendment provides for the extension of the loan availability period until 31 December 2026.

According to the presenter, the financial terms of the loan remain unchanged. She noted that several sections of the road have already been financed and completed under the project. At this stage, only the rehabilitation works on the Poti Bridge remain, with completion planned for this year.

Committee members also supported the Decision No. DEC-I 1/119-VI/2024 of 25 June 2024 of the Council of Members of the International Olive Council concerning the amendment to Article 36 of the 2015 International Agreement on Olive Oil and Table Olives.

Deputy Environmental Protection and Agriculture Minister Zurab Ezugbaia explained that the agreement did not contain a detailed procedure for extending its duration. According to him, under the current wording, the agreement remains in force until 31 December 2026, while the proposed amendment would allow the Council to extend the agreement periodically for periods of up to five years.

The presenter noted that decisions within the framework of the agreement are adopted by consensus. Therefore, Georgia’s position is important. He emphasized that the agreement is of significant importance to the country, as it helps Georgia strengthen its presence and establish itself internationally as an olive-producing nation.

According to the Deputy Minister, olive groves have already been established on approximately 4,000 hectares of land in Georgia.