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Iraq discusses Development Road Project with World Bank delegation

Iraq discusses Development Road Project with World Bank delegation
Iraq discusses Development Road Project with World Bank delegation

2023-09-25 20:30:07 - Source: Shafaq News

Shafaq News/ The Iraqi Minister of Transport, Razzaq Muhaibis, held talks with a delegation from the World Bank on Monday. The discussions centered on the auditing process for the designs of the Development Road project.

The World Bank delegation included Ibrahim Dajani, the Practice Manager for Transport Global Practice for the Middle East and North Africa Region, and other senior infrastructure specialists.

During the meeting, Muhaibis and the World Bank officials delved into the intricacies of reviewing and auditing the project designs, which were prepared by an Italian consultant.

One of the key highlights of the discussions was the confirmation by World Bank representatives that they are actively working on a comprehensive study. This study explores various suitable options for facilitating global trade between the East and West, focusing on the pivotal role that the Development Road project can play in this regard.

The Development Road Project is a $17 billion infrastructure initiative in Iraq. Its core objective is to establish a seamless motorway and rail network connecting the southern port city of Basra to the Turkish border. This ambitious project will also integrate with existing road and rail networks, ultimately establishing a crucial link between Asia and Europe.

The project's significance goes beyond its financial investment. It is expected to catalyze economic growth, create thousands of job opportunities, and elevate Iraq's status as a regional transportation hub. The Development Road Project is funded by a consortium of Iraqi and international investors and is slated for completion in 2028.

The Iraqi Prime Minister, Muhammad Shiaa Al-Sudani, previously directed the Ministry of Transport and the Board of Advisors to collaborate with the World Bank to ensure comprehensive oversight and auditing of the project's designs, underscoring the government's commitment to transparency and international cooperation.

The project is still in its early stages but can potentially be a significant game-changer for Iraq and the region.

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