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USTDA AWARDS GRANT TO DEVELOP STATE-OF-THE-ART HOSPITAL IN TBILISI

TBILISI, GEORGIA (July 11, 2008) – To promote a superior standard of healthcare in Georgia, USTDA today awarded a grant to Aword Capital, LLC, a private Georgian real estate developer. The grant will be used to fund an analysis of the technical and economic feasibility of developing a 120-bed American standard hospital in Tbilisi.

The $428,000 grant was conferred during a signing ceremony held at the Marriott Courtyard in Tbilisi. U.S. Ambassador to Georgia John F. Tefft and Aword Capital Chief Executive Officer Lasha Tsagareishvili signed the grant agreement on behalf of the U.S. Government and Aword Capital, respectively. USTDA Regional Director for Europe and Eurasia Daniel D. Stein signed as a witness to the grant agreement.

The healthcare system in Georgia is dominated by a public system that is underfunded, resulting in a standard of care at public facilities that is below internationally accepted levels. Private healthcare is permitted and advancements have been made in developing the private market. To help meet the growing demand for world-class healthcare, AWORD Capital has partnered with the American Associates of Democracy in Georgia, a U.S.-based non-profit organization, and the Tbilisi-based AIETI Medical School to develop a 120-bed American standard hospital in Tbilisi. The proposed hospital would serve more than 8,000 inpatients and approximately 15,000 outpatients each year utilizing state-of-the-art medical technologies.

AWORD Capital has selected Medeq International, LLC, a partnership of two diagnostic centers based in New York City, as the contractor to perform the study. Medeq International, LLC will contribute additional resources toward the study’s completion.

The U.S. Trade and Development Agency advances economic development and U.S. commercial interests in developing and middle-income countries. The agency funds various forms of technical assistance, early investment analysis, training, reverse trade missions and business workshops that support the development of a modern infrastructure and a fair, open trading environment. USTDA’s strategic use of foreign assistance funds to support sound investment policy and decision-making in host countries creates an enabling environment for trade, investment and sustainable economic development. In carrying out its mission, USTDA gives emphasis to economic sectors that may benefit from U.S. exports of goods and services.

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