The World Bank approves $900 million in funding for a project to develop Iraq’s road network.
The World Bank announced on Friday that it has approved funding for a $900 million project to improve road infrastructure in Iraq.
The World Bank stated in a statement received by Al-Maalomah Agency that “the project will support economic transport corridors in Iraq, strategic investments in main road corridors that form a basic pillar for internal transport, regional integration and long-term economic growth, enhancing the safety and reliability of transport and opening up new opportunities for individuals and companies throughout the country.”
The statement added that “land transport represents more than 90% of the volume of transport traffic in Iraq, but most of the country’s road networks suffer from weak infrastructure and deterioration caused by climatic pressures, as well as road safety risks.”
The statement continued, “Most of the road networks are paved, but a large proportion of them are not in good condition, which restricts the movement of trade and ease of access to services, and undermines economic opportunities.”
The statement continued, “This sector is a vital source of job opportunities, as road construction and rehabilitation works contribute to job creation and support broader economic activity.”
He pointed out that “the Economic Corridors for Transport project in Iraq is based on priority investments through two strategic axes: a north-south corridor linking Baghdad to the Turkish border via the E2 highway, and an east-west corridor along the E1 highway linking Baghdad to both Syria and Jordan.”
He pointed out that “the program, in its first phase, finances the rehabilitation of the main parts of the E1 highway, helps to improve the efficiency of specific roads in the Kurdistan Region of Iraq, and establishes the initial section of the E2 highway. These investments combine to enhance the operational efficiency of the national road network in Iraq and fortify it against climate change, and lay a solid foundation for future phases that contribute to attracting private sector capital and expanding the scope of the transport corridors program.”
The statement affirmed that “approximately 7.9 million citizens are expected to benefit from the project, the majority of whom live along new or upgraded roads, including approximately 3 million women and 1.5 million young people,” noting that “the project will benefit various regions of Iraq, from Baghdad to the Kurdistan Region and along the border crossings with Jordan, Syria and Turkey.”
He noted that “by improving connectivity services between major population centers, industrial and agricultural areas, and religious tourism destinations, the project is expected to reduce travel times and transportation costs, increase shipping efficiency, and alleviate congestion on secondary and urban roads. These investments are also expected to enhance road safety, improve maintenance procedures, support economic diversification, and facilitate access to vital sectors such as tourism, agriculture, health, and manufacturing.”
According to the statement, the World Bank’s Middle East Director, Jean-Christophe Carré, affirmed that “roads are the backbone of Iraq’s transport network and the key to expanding connectivity and providing job opportunities.”
He added that “the Economic Transport Corridors project will help Iraq address critical infrastructure gaps,” noting that “by investing in strategic economic corridors, the project will connect citizens to markets and services, enhance regional and economic integration, and contribute to more inclusive and sustainable growth.”
The statement added that “the project was designed as the first in a series of projects aimed at addressing the challenges facing the road sector in Iraq in a gradual approach to support a long-term reform and investment program,” explaining that “the results of the pilot activities achieved by the first project will be evaluated and its design modified to guide future investments. In addition to the physical investments, the project will support efforts to support institutions and prepare future activities to modernize the road sector in Iraq.”
The statement continued, “The project will also support performance-based road maintenance contracts, create an enabling environment for sustainable partnerships with the private sector, and explore opportunities to generate income and revenue.”
Almaalomah.me