The Port Of Discord
Georgian banker Mamuka Khazaradze, the co-founder of the country’s largest universal bank and the man behind the Anaklia Port project, recently had a falling out with the government after being charged with money laundering and thus decided to form his own political party called “Lelo” in an attempt to unseat his opponents during next year’s parliamentary elections as revenge. This in and of itself wouldn’t be an event worthy of international attention had it not been for the fact that the US Embassy in Georgia signaled its support for him after the charges were made and reiterated that it also continues to support his Anaklia Port project as well. About that investment, it’s planned to be the country’s largest one in history and envisages the creation of a deep-water port for facilitating Chinese-European trade. It’s an interesting idea in principle that was formerly supported by the government, but the authorities balked at demands from potential international creditors that they underwrite the hundreds of millions of dollars in loans that would be required for its completion.
The Argument Against Anaklia
That’s a sensible enough stand for the state to take, however, considering just how risky of a venture the Anaklia Port is. On the one hand, the argument can be made that there’s definitely a demand for trans-Black Sea shipping along China’s many New Silk Roads, but on the other, the case can also be put forth that the costs far exceed the predicted revenue when considering that the People’s Republic also plans to use the Arctic Silk Road maritime road, the Eurasian Land Bridge, the georgia preparing another color revolution
