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The World Bank confirms its readiness to submit a feasibility study and the path of the “Development Road” project next month
economy 2025-01-08 | 06:14
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Alsumaria News - Politics
Today, Wednesday, the World Bank confirmed its readiness to present the feasibility study and the path and details of the development road project by next February, while the Parliamentary Finance Committee called on the bank delegation to present new visions and ideas regarding achieving optimal investment for this huge project. said The office of the
Chairman of the Finance Committee, Atwan Al-Atwani, in a statement received by Al-Sumaria News, “Today, Al-Atwani received a World Bank delegation headed by Jean-Christophe Carré, Regional Director for the Middle East, to discuss support for the project to rehabilitate railway lines within the Development Road Project.” The office added,
"The meeting reviewed the economic and regional vision of the Development Road Project and its strategic importance in stimulating investment, maximizing non-oil revenues, and providing job opportunities.
It also discussed the possibility of the private sector contributing to its implementation." The office continued,
"The meeting witnessed a discussion of 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."
According to the statement, Al-Atwani reiterated his emphasis that
"the infrastructure of the development road will be in the hands of the government so that this important project that connects Iraq with the countries of the world will not be subject to influence." Al-Atwani pointed out,
“Our vision is for the Development Road Project to not be just a transit point, but rather
we seek for it to be a gateway to revitalize 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.”
"It is hoped that Iraq will become an economic corridor linking Asia with Europe." Al-Atwani stressed "the
need to accelerate the submission of the feasibility study related to the plan to develop the railway sector 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 his speech by saying,
“We look forward to holding joint workshops and expanded meetings with the World Bank, to provide a full briefing on the details of the project and discuss its details in a way that secures broad parliamentary support for this borrowing,” noting 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 approach and achieves great financial returns.”
For its 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 readiness of the World Bank team to present the feasibility study, project path and details by next February.
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