World Bank Allocates $900 Million for Iraq Road Infrastructure

BAGHDAD, Iraq — The World Bank announced it will support a $900 million initiative to modernize Iraq's road infrastructure, according to a statement from the Washington-based institution. The project aims to strengthen the main road network that forms the backbone of domestic transport and support regional integration. Road transport accounts for more than 90 percent of Iraq's total transport volume, the statement noted. Many road networks have struggled with inadequate infrastructure, climate-related wear and security challenges, it added. The investment targets improving the functioning of the national road network and expanding the country's transport strategy, according to the statement, which was reported by the state-run INA news agency. The initiative is also expected to boost employment and stimulate economic activity through road construction. No further details on specific projects or timelines were immediately available.