Remember back in September when our government pledged $1 billion in "recovery aid" to the nation of Georgia following its war with Russia?
You'll be happy to know that some of it has been put to good use - financing the construction of the luxury Park Hyatt hotel in downtown Tbilisi, in an area not damaged by the war.
Aid to Georgia finances luxury hotel in Tbilisi (http://www.foreignpolicy.com/top10-2008/index8.html - broken link)
Quote:
The money was intended to “help Georgia sustain itself,” Secretary of State Condoleezza Rice said... So why was $176 million of the aid money earmarked for loans to businesses—including $30 million to a real estate developer for a luxury hotel: the 127,000-square-meter Park Hyatt in downtown Tbilisi, an area that was not at all damaged in the war?
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Why indeed...