The World Bank’s Board of Governors agreed to grant Iraq USD 355 million loan to finance its transportation system.
In a statement to the press on Friday, Dec. 20, The Bank said that the project aims to limit road accidents by 25% by two side roads with Iraq’s northern western and southern neighbors.
It added that the project aims to improve the roads’ quality and safety, as well encourage citizens in public life, in addition to consolidate national unity and regional trade integration.
The statement pointed out that the project will be executed with the cooperation of Iraqi government who will contribute USD 384 million and the Islamic Bank for Development with USD 217, as a first stage.
Updated 21 Dec 2013 | Soruce: NINA |