World Bank Approves $900 Million Iraq Project

The World Bank has approved a $900 million financing package for Iraq to upgrade its road infrastructure and improve key transport links across the country and neighbouring regions.

The World Bank announced the funding on Friday, saying the project will make travel safer and more reliable, and create economic opportunities for people and businesses.

According to the statement, the project will focus on two major transport corridors: a north-south route linking Baghdad to Turkey through Expressway 2 (E2), and an east-west corridor along Expressway 1 connecting Baghdad with Syria and Jordan. The bank said about eight million people, nearly 17 percent of Iraq’s population, are expected to benefit from the project.

World Bank Approves $900 Million Iraq Project (NewsCentral TV) — World Bank Approves $900 Million Iraq Project. Credit: The New Region.

Iraq has recently experienced relative stability, allowing for renewed investment in infrastructure after years of neglect, corruption, and prolonged conflict. The country remains heavily dependent on road transport and serves as a key transit route for goods moving across the region.

The World Bank also recalled that it had previously approved $930 million for the modernisation of Iraq’s railway network, as part of broader efforts to rebuild the country’s transport system.

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