Baghdad Considers Agreement With Ankara Funding Development Road Via Oil

The Iraqi Ministry of Transport is preparing to conclude an agreement with Turkey based on an "oil-for-financing" formula to establish a dedicated fund for executing the strategic Development Road project, alongside securing international financial support. Fadhil Abbas, head of the projects department at the General Company for Iraqi Railways, stated in remarks to the official newspaper that the project is currently undergoing design preparation. The initiative aims to upgrade the domestic railway network, connect provinces, and transport passengers and commercial cargo, with the primary objective of moving goods from Al-Faw Grand Port directly to Turkey and Europe. Abbas added that active efforts are underway to finalize an arrangement with Ankara to create a funding mechanism enabling Turkish firms to execute works in return for crude oil supplies. He explained that the initial phase encompasses rehabilitating the existing rail corridor from Baghdad to Basra and Umm Qasr in the south, as well as the Baghdad-Mosul route up north. This track will connect to Al-Faw Port and Fishkhabur near Turkish borders, funded through a World Bank loan.