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Iraq And Turkey Prioritize Development Road; New Company With Public Share Offering Considered
Iraq Jawad Al-Samarraie May 18, 2025 190 Mohammed Najjar, Advisor to the Prime Minister and Executive Director of the Iraq Development Fund
Baghdad (IraqiNews.com) – The Development Road project has become a top shared priority for Iraq and Turkey,
with innovative implementation models under consideration, Mohammed Al-Najjar, PM’s Investment Advisor and Head of the Iraq Fund for Development, announced Sunday (May 18, 2025).
This follows PM Mohammed Shia Al Sudani’s recent high-level visit to Turkey. Al-Najjar revealed an
MoU has been signed between the Iraq Fund for Development and the
Turkish Wealth Fund to kickstart projects along the route.
He emphasized Turkish President Erdoğan’s focus on the Iraqi fund’s role.
Iraq is exploring a “completely new framework” for the project, targeting 24,000-28,000 km.
One approach involves establishing a
state-owned Iraqi company,operating on private sector principles,
to develop the road,
with part of its shares potentially offered for public subscription to citizens.
Another option being studied is creating an
independent government authority to manage legal, technical, and customs aspects.
These plans aim to
reduce bureaucracy,
speed up development, and
solidify Iraq’s role as a key regional economic and transit hub.
https://www.iraqinews.com/iraq/iraq-development-road-new-company-public-shares/
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