en.Wedoany.com Reported - The World Bank Group announced the approval of a $900 million financing package to support the upgrade of Iraq's road network. The funds will be allocated to the "Iraq Transport Economic Corridors" (ITREC) project, which plans strategic investments in key highway corridors crucial for domestic transportation and regional integration. According to World Bank data, approximately 90% of Iraq's transportation relies on roads, and upgrading the road network will bring significant economic benefits to the country.

Iraq's current road network, due to chronic underfunding, faces high maintenance demands. Although most roads are paved, there has been little improvement over the years. The ITREC project will focus on priority investments along two strategic axes: one is the north-south corridor connecting Baghdad to the Turkish border via Expressway 2 (E2); the other is the east-west corridor connecting Baghdad to Syria and Jordan along Expressway 1 (E1). In the first phase, the project will fund the rehabilitation of key sections of E1, upgrade selected roads in the Kurdistan Region of Iraq, and construct the initial segment of E2.

Jean-Christophe Carret, World Bank Regional Director for the Middle East, stated that roads are the backbone of Iraq's transport system and key to expanding connectivity and creating jobs. The ITREC project will help address critical infrastructure gaps by investing in strategic economic corridors, connecting people to markets and services, strengthening regional and economic integration, and promoting more inclusive and sustainable growth. This project is the first in a series aimed at improving Iraq's road sector and supporting long-term reforms and investments.

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