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The World Bank approves $900 million in funding for a project to develop Iraq’s road network.

The World Bank announced on Friday that it has approved funding for a $900 million project to improve road infrastructure in Iraq.

The World Bank stated in a statement received by Al-Maalomah Agency that “the project will support economic transport corridors in Iraq, strategic investments in main road corridors that form a basic pillar for internal transport, regional integration and long-term economic growth, enhancing the safety and reliability of transport and opening up new opportunities for individuals and companies throughout the country.”

The statement added that “land transport represents more than 90% of the volume of transport traffic in Iraq, but most of the country’s road networks suffer from weak infrastructure and deterioration caused by climatic pressures, as well as road safety risks.”

The statement continued, “Most of the road networks are paved, but a large proportion of them are not in good condition, which restricts the movement of trade and ease of access to services, and undermines economic opportunities.”

The statement continued, “This sector is a vital source of job opportunities, as road construction and rehabilitation works contribute to job creation and support broader economic activity.”

He pointed out that “the Economic Corridors for Transport project in Iraq is based on priority investments through two strategic axes: a north-south corridor linking 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, finances the rehabilitation of the main parts of the E1 highway, helps to 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 the national road network in Iraq and fortify it against climate change, and lay a solid foundation for future phases that contribute to attracting private sector capital and expanding the scope of the transport corridors program.”

The statement affirmed that “approximately 7.9 million citizens are expected to benefit from the project, the majority of whom live along new or upgraded roads, including approximately 3 million women and 1.5 million young people,” noting that “the project will benefit various regions of Iraq, from Baghdad to the Kurdistan Region and along the border crossings with Jordan, Syria and Turkey.”

He noted that “by improving connectivity services between major population centers, industrial and agricultural areas, and religious tourism destinations, the project is expected to reduce travel times and transportation costs, increase shipping efficiency, and alleviate congestion on secondary and urban roads. These investments are also expected to enhance road safety, improve maintenance procedures, support economic diversification, and facilitate access to vital sectors such as tourism, agriculture, health, and manufacturing.”

According to the statement, the World Bank’s Middle East Director, Jean-Christophe Carré, affirmed that “roads are the backbone of Iraq’s transport network and the key to expanding connectivity and providing job opportunities.”

He added that “the Economic Transport Corridors project will help Iraq address critical infrastructure gaps,” noting that “by investing in strategic economic corridors, the project will connect citizens to markets and services, enhance regional and economic integration, and contribute to more inclusive and sustainable growth.”

The statement added that “the project was designed as the first in a series of projects aimed at addressing the challenges facing the road sector in Iraq in a gradual approach to support a long-term reform and investment program,” explaining that “the results of the pilot activities achieved by the first project will be evaluated and its design modified to guide future investments. In addition to the physical investments, the project will support efforts to support institutions and prepare future activities to modernize the road sector in Iraq.”

The statement continued, “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.”

Almaalomah.me

Finance Minister to World Bank Representative: We are proceeding with the implementation of financial and economic reform programs.

World BankDuring his meeting with the World Bank representative to Iraq, Emmanuel Salinas Munoz, Finance Minister Faleh Al-Sari affirmed the ministry’s commitment to implementing financial and economic reform programs, in line with the government program’s priorities and to enhance the efficiency of public resource management.
Al-Sari indicated, according to a statement from the Ministry of Finance, a copy of which was received by Al-Furat News, that “the Ministry is determined during the next stage to adopt reform paths based on developing the financial and banking environment, expanding the application of electronic systems in the tax and customs sectors, in addition to supporting non-oil revenues and simplifying procedures in a way that contributes to improving institutional performance and stimulating economic activity.”

The two sides reviewed mechanisms for enhancing technical and institutional cooperation with the World Bank to support development and infrastructure projects, empower the private sector, and benefit from international expertise in implementing reforms.

For his part, Salinas Muñoz affirmed the bank’s continued support for the reform programs implemented by the Iraqi government, which contribute to strengthening economic development and raising the efficiency of financial institutions.

Alforatnews.iq

Looted funds and billion-dollar contracts: A battle of attrition between al-Zaydi and networks of influence

The discussion about suspicious contract deals and the corruption files surrounding them has resurfaced, with the ongoing debate about the possibility of opening these files and holding those involved accountable, in addition to the most important aspect of recovering public funds.

After repeated attempts by previous governments, most of which failed to stop the waste of public money through suspicious contracts and deals, Prime Minister Ali al-Zaidi stands out in confronting these thorny issues, amid speculation that they can be addressed and settled despite the large accumulation left by past years, as well as the acquisition of parts of these files by influential political entities and their influence on the investigation and follow-up processes.

In this context, MP Duha al-Sadkhan, from the National Approach bloc, affirmed in a statement to Al-Maalomah News Agency that any serious government initiative to combat corruption must encompass all state institutions without exception. She stressed the necessity of recovering stolen funds and holding those involved accountable under the law.
Al-Sadkhan stated that “exempting any entity from accountability procedures would weaken citizens’ confidence in the seriousness of anti-corruption efforts.” She emphasized that “the issue of political or partisan entities benefiting from certain contracts and tenders must be resolved through legal means, evidence, and the competent judicial authorities, not through accusations or political affiliations.”

Political analyst Talib Muhammad Karim explained in a statement to Al-Maalomah News Agency that any serious reform project will naturally clash with interests that have accumulated over many years within some parts of the state and the economy.

Karim said that the success of reform is not measured by the size of the clashes it faces, but by its ability to enforce the law and apply professional standards to everyone without exception, stressing the importance of giving the government sufficient space to work according to its program away from the pressures and political interventions that have disrupted many projects during the previous stages.

The arrest of Adnan al-Jumaili, the Deputy Minister of Oil for Refining Affairs and Director General of the North Refineries Company and Baiji Refinery, by a special force accompanied by a team from the Integrity Commission, was the first concrete step in opening investigations into previous contracts suspected of corruption, particularly after the seizure of large sums of money, real estate, and land in his possession. According to initial findings, judicial investigations revealed his involvement in widespread and serious corruption deals.

Almaalomah.me

Daham is referring to repaying the debt… We are not seeking anything other than what is rightfully ours in Al-Zaydi’s cabinet.

Mohammed Daham, a member of the Azm Alliance, confirmed that his alliance is not demanding more than its political and electoral entitlement in al-Zaidi’s cabinet. He also indicated that the alliance is repaying a debt related to relinquishing the position of Speaker of Parliament to ensure an end to the political deadlock.

Daham told Al-Maalouma, “The Azm Alliance is not seeking more than its electoral entitlement in the cabinet and will not demand anything more than that. The alliance is seeking the position of Deputy Prime Minister, in addition to two sovereign ministries and one regular ministry.”

He added, “The purpose of relinquishing the Speakership was to end the deadlock and move the political process forward, as happened in the previous parliamentary session and the bloody events that took place at the gates of the Green Zone.”
He explained that “positions must be considered and taken into account, as they are a debt that needs to be repaid, especially since such positions were not blackmail. Therefore, what is expected in the next phase is obtaining the electoral entitlement, nothing more.”

Almaalomah.me

Al-Saadawi stresses the need to find solutions before making any decision regarding the financial aspect.

Former member of the Parliamentary Finance Committee, Abdul Hadi Al-Saadawi, stressed the need to find solutions and remedies before the government takes any decisions regarding the country’s financial situation.

Al-Saadawi told Al-Maalouma, “A series of measures must be taken before making any amendments or issuing any decisions concerning the exchange rate in local markets to ensure the preservation of the value of the Iraqi dinar.”

He added, “There is a clear difference between the foreign currency sold through the official sales window and the same currency sold in local markets, with the difference reaching more than 20 points.”

He explained that “the government has taken good steps, as has the Central Bank, which has taken a series of measures to address the country’s financial and monetary situation,” noting that “financial solutions require courageous decisions from the government to address the economic situation, especially given the optimism surrounding the government’s ability to address the country’s economic situation.”

Almaalomah.me

Urgent US warning: Do not travel to Iraq

The US Embassy in Israel issued a warning Thursday evening to American citizens in the Middle East, urging them to continue exercising caution and emphasizing the need to avoid travel to a number of countries, including Iraq.

The embassy stated in a statement received by Shafaq News Agency, “Due to the high level of tension in the region, the security situation remains complex and subject to rapid change. We remind American citizens in the Middle East of the need to continue to exercise caution, and encourage them to follow the news for urgent updates.”

She added: “The U.S. State Department’s travel warnings for Bahrain, Israel, the West Bank, Jordan, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates remain at Level 3: Reconsider Travel.”

She continued: “As for Iran, Iraq, Lebanon, Syria, the Gaza Strip, and Yemen, they remain at level four: no travel.”

The embassy noted that in the event of “potential hostilities, U.S. citizens should know the location of the nearest shelter they can go to in the event of hostilities or a security escalation.”

Shafaq.com

Iraqi oil exports via the Kurdistan Region pipeline are expected to stabilize in May.

Economic expert Nabil Al-Marsoumi predicted on Friday that Iraq’s total oil exports during May would remain at the same levels as April, at around 329,000 barrels per day as an additional export rate through the northern outlets and some alternative distribution channels, amid continued unrest in the region and disruption of supply chains through the Strait of Hormuz.

Al-Marsoumi explained in a post that the average export through the Kurdistan Region pipeline to the Turkish port of Ceyhan reached 233,000 barrels per day in May, of which about 20,000 barrels came from the region’s fields, and the rest from Kirkuk oil and the northern and central fields.

These estimates come in conjunction with official warnings issued by Oil Minister Bassem Mohammed Khudair, in which he revealed the extent of the damage inflicted on the country’s export capacity as a result of the current tensions in the region, noting that total exports have declined from their normal rate of 93 million barrels per month before the crisis, to be limited to very low levels of only about 10 million barrels in April due to the disruption of maritime navigation.

Shafaq.com

The Commander-in-Chief’s office denies any changes to security and military leadership; the Ministry of Defense warns those spreading rumors.

The spokesman for the Commander-in-Chief of the Armed Forces, Sabah al-Nu’man, refuted on Friday what has been circulating recently on social media pages regarding news about changes in the senior leadership positions of the military and security institutions in the country.

Al-Nu’man confirmed in a statement that all rumors about dismissing, appointing, or rotating these positions are “completely untrue and have no basis in reality, as the current leaders continue to perform their national duties and responsibilities with full efficiency and competence in accordance with the approved strategic plans to maintain security and stability.”

He urged all media outlets and social media users to be accurate and cautious, and to rely only on official sources for information, calling for them not to be misled by fake accounts and news from unknown sources.

In the same context, the Ministry of Defense issued a statement confirming its legal right to take the necessary measures against anyone who deliberately publishes or promotes “false news and rumors” targeting the military establishment, its leaders and members.

Over the past few days, social media in Iraq has been circulating news claiming that extensive military and security changes will be made in the country.

Shafaq.com

“Iraq 2035”: A government plan to raise non-oil revenues to 46%

On Friday, Mazhar Muhammad Salih, the Prime Minister’s economic advisor, confirmed that the government program has laid its strategic foundations in the field of financial and economic diversification, with the aim of achieving Iraq’s sustainable development goals.

Saleh told Shafaq News Agency that “the program will be implemented by building an integrated relationship between developing the structure of non-oil revenues within the framework of public finance for the coming years, and diversifying the non-oil GDP.”

He added that “this ambitious time vision, which was named (Iraq 2035), and whose foundations and principles were laid by the Prime Minister on May 23, 2026, combines public finance reform and the activation of the social market economy, in order to ensure a gradual structural transformation in the structure of the national economy.”

He pointed out that “implementing this vision requires restructuring fiscal policy to raise the contribution of non-oil revenues to the annual general budget to no less than 46% of total public revenues, which enhances financial sustainability and reduces fluctuations resulting from excessive reliance on oil revenues.”

Saleh continued, saying that “the parallel goal is to enable the market and the private sector to raise their contribution to the gross domestic product to 53% by 2035, compared to the current percentage which does not exceed 37%, which reflects a clear trend towards making the private sector a key partner in the economic development process, through the actual implementation of the national strategy for developing the private sector and what it includes in terms of institutional and regulatory reforms.”

He explained that “the Market Development Council will play a pivotal role in regulating market institutions in accordance with the principles of good governance, creating an attractive investment environment capable of providing financial and strategic leverage for private sector-led development projects in the areas of manufacturing, agriculture, logistics and the digital economy.”

Saleh concluded his remarks by emphasizing that “this approach represents a complementary framework for diversification between the financial and real sectors, leading to abandoning the rentier nature of the Iraqi economy and establishing a development model based on productivity, competitiveness, and a balanced partnership between the state and the market, ultimately leading to a more diversified and sustainable economy by 2035.”

Earlier last week, a report issued by the International Monetary Fund showed that Iraq will be among the economies most affected by regional turmoil during 2026, with clear repercussions on inflation rates, external accounts and public finances.

Iraq faces increasing financial challenges as a result of the closure of the Strait of Hormuz due to the war, as it is the main passage for its oil exports, at a time when the Iraqi economy is heavily dependent on oil revenues as a primary source of public revenues and budget financing.

Shafaq.com