The World Bank announces the date for submitting the feasibility study, the path of the development road project and its details
The World Bank announces the date for submitting the feasibility study, the path of the development road project and its details
2025/01/08
The World Bank announced its readiness to submit the feasibility study, the path of the development road project, and its details by next February.
A statement by the House of Representatives, a copy of which was received by {Euphrates News}, stated that “the head of the Finance Committee, Atwan Al-Atwani, received today, Wednesday, a delegation from the World Bank headed by {Jean-Christophe Carré}, the regional director for the Middle East, to discuss supporting the railway rehabilitation project within the development road project.
The meeting reviewed the “economic and regional vision of the Development Road Project and its strategic importance in stimulating investment activity, maximizing non-oil revenues and providing job opportunities. It also discussed the possibility of the private sector contributing to its implementation.”
The meeting also discussed the multi-stage support provided by the World Bank for the Development Road Project, including modernizing and rehabilitating the current railway network and linking it from southern Iraq through the north and reaching Turkey.
Al-Atwani reiterated his emphasis that the infrastructure of the development road should be in the hands of the government so that this important project that links Iraq to the countries of the world will not be subject to influences.
The head of the committee pointed out that “our vision is for the development road project not to be a mere transit point, but rather we seek to make it a gateway to activate various economic and commercial activities and develop infrastructure, calling on the World Bank delegation to present new visions and ideas regarding achieving optimal investment for this huge project that is hoped to make Iraq an economic corridor linking Asia to Europe.”
He stressed the need to expedite the submission of the feasibility study related to the railway development plan within the development road project, and to contribute to mobilizing international expertise and attracting the private sector to invest in it in a way that achieves the country’s interest.
Al-Atwani concluded: We look forward to holding joint workshops and extensive meetings with the World Bank, to provide a full briefing on the project details and discuss its details in a way that secures broad parliamentary support for this loan, indicating that “the Finance Committee supports any loans that are economically feasible and bring great benefit to the Iraqi economy, especially since investment in the railway sector is a successful trend and achieves a large financial return.”
For his part, the World Bank delegation appreciated the valuable comments made by Al-Atwani in the context of the rapid transition from the planning and vision stage to the implementation stage, stressing the World Bank team’s readiness to submit the feasibility study, project path and details by next February.
alforatnews.iq
