IMF to finance 508 k.m. highway in Iraq
By Ali al-Shattab
Azzaman, August 17, 2011
The Ministry of Construction and Housing is to build a highway linking Baghdad with Turkey, the ministry said in a statement.
It said the 508 k.m.-long highway will be financed by the International Monetary Fund.
The statement gave no details on the type and size of the loan the bank is to extend to Iraq.
But it said a bank’s delegation visited the country recently to oversee Iraq’s preparation to start the project.
“This project is a challenge to the ministry since it assumes great economic significance for the country,” the statement said, quoting minister Mohammed Saheb as saying.
Iraq built in the 1980s a nearly 1,000 k.m.-long highway linking its southern port of Basra with both Jordan and Syria.
The highway to Turkey was planned but it was shelved due to the ruinous 1980-1988 war with Iran.
Once completed, Iraq will have one of the most extensive and modern highways in the Middle East, linking its southern ports and major cities with neighboring states.
By Ali al-Shattab
Azzaman, August 17, 2011
The Ministry of Construction and Housing is to build a highway linking Baghdad with Turkey, the ministry said in a statement.
It said the 508 k.m.-long highway will be financed by the International Monetary Fund.
The statement gave no details on the type and size of the loan the bank is to extend to Iraq.
But it said a bank’s delegation visited the country recently to oversee Iraq’s preparation to start the project.
“This project is a challenge to the ministry since it assumes great economic significance for the country,” the statement said, quoting minister Mohammed Saheb as saying.
Iraq built in the 1980s a nearly 1,000 k.m.-long highway linking its southern port of Basra with both Jordan and Syria.
The highway to Turkey was planned but it was shelved due to the ruinous 1980-1988 war with Iran.
Once completed, Iraq will have one of the most extensive and modern highways in the Middle East, linking its southern ports and major cities with neighboring states.