Sun. AM KTFA News Articles from Iraq 6-7-26

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Clare » June 7th, 2026

The Prime Minister receives members of the Board of Directors and Private Sector Development and chairmen of the boards of directors of private banks

6/6/2026

Prime Minister Ali Faleh al-Zaidi received on Saturday members of the Board of Directors and Development of the Private Sector, members of the Iraqi Economic Council, and a number of chairmen of the boards of directors of private banks in Iraq.

The Prime Minister’s Media Office said in a statement that “Prime Minister Ali Faleh Al-Zaidi received members of the Board of Directors and Development of the Private Sector, members of the Iraqi Economic Council, and a number of chairmen of the boards of directors of private banks in Iraq.” (LINK)

Iraq secures international approval for $900 million in funding for road network development project

6/6/2026

Iraq Secures International Approval for $900 Million Road Network Development Project.

The World Bank announced on Friday its approval of a $900 million project to improve Iraq’s road infrastructure.

In a statement, the Bank said the project will support Iraq’s transport economic corridors through strategic investments in key road corridors that form a cornerstone for domestic transport, regional integration, and long-term economic growth. It will also enhance transport safety and reliability and open new opportunities for individuals and businesses across the country.

The statement added that road transport accounts for more than 90% of Iraq’s total transport volume, yet most of the country’s road networks suffer from poor infrastructure, deterioration due to climate stresses, and road safety hazards.

The project focuses on priority investments along two strategic axes: a north-south corridor connecting Baghdad to the Turkish border via the E2 highway, and an east-west corridor along the E1 highway linking Baghdad to both Syria and Jordan.

He pointed out that “the program, in its first phase, funds the rehabilitation of key sections of the E1 highway, helps improve the efficiency of specific roads in the Kurdistan Region of Iraq, and establishes the initial section of the E2 highway.

These investments combine to enhance the operational efficiency of Iraq’s national road network and strengthen its resilience to climate change, while laying a solid foundation for future phases that will attract private sector capital and expand the scope of the transport corridor program.”

The statement emphasized that “approximately 7.9 million citizens are expected to benefit from the project, the majority of whom live along newly constructed or upgraded roads, including about 3 million women and 1.5 million young people.”

It further noted that “the project will benefit various regions of Iraq, from Baghdad to the Kurdistan Region and along the border corridors with Jordan, Syria, and Turkey.”

The statement added that “the project will also support performance-based road maintenance contracts, create an enabling environment for sustainable partnerships with the private sector, and explore opportunities to generate income and revenue.”

The statement concluded, “The Roads and Bridges Department of the Ministry of Construction, Housing, Municipalities and Public Works will implement the project with strategic supervision from a high-level steering committee that includes key national institutions and representatives from the Kurdistan Region of Iraq.” (LINK)

Source: Dinar Recaps

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