World Bank Allocates $900M for Iraqi Road Infrastructure

The World Bank announced on Friday a $900 million financing package intended to improve Iraq's road infrastructure. This initiative includes the development of two major corridors: a north-south corridor linking Baghdad to the Turkish border via Expressway 2 (E2) and an east-west corridor along Expressway 1 (E1) connecting Baghdad to Syria and Jordan.

The financing aims to create safer and more reliable travel opportunities for people and businesses across the country, addressing the challenges posed by decades of neglect and corruption in the public sector, as well as the impacts of 40 years of armed conflict. The World Bank anticipates that approximately eight million people, representing about 17 percent of Iraq's population, will benefit from this project.

The country heavily relies on road transport as a key transit route for trucks traversing the region. This announcement follows a previous commitment of $930 million by the World Bank for the modernization of Iraq's railway network.