28 April 2012
BAGHDAD - The implementation of a dry canal project by the Iraqi Ministry of Construction and Housing has kicked off at a cost of $1.4bn (1.6tr IQD), said the services committee in the Iraqi Council of Representatives.
Committee member Ihsan Al-Awadi said the ministry began preparing tests and plans for the development of the transfer highway from Basra to Turkey after getting the approval of the World Bank to lend Iraq the required amount of money.
Iraq seeks to build an integrated transport system linking it with regional countries through the dry canal that connects the Mediterranean and the Persian Gulf and East Asia.
The World Bank will monitor the project through a specialized committee formed to facilitate the loan, said al-Awadi.
The official added that the Finance Ministry was commissioned by Prime Minister Nouri al-Maliki to receive the loan procedures and agree on an appropriate method to pay back the money over the next ten years.
BAGHDAD - The implementation of a dry canal project by the Iraqi Ministry of Construction and Housing has kicked off at a cost of $1.4bn (1.6tr IQD), said the services committee in the Iraqi Council of Representatives.
Committee member Ihsan Al-Awadi said the ministry began preparing tests and plans for the development of the transfer highway from Basra to Turkey after getting the approval of the World Bank to lend Iraq the required amount of money.
Iraq seeks to build an integrated transport system linking it with regional countries through the dry canal that connects the Mediterranean and the Persian Gulf and East Asia.
The World Bank will monitor the project through a specialized committee formed to facilitate the loan, said al-Awadi.
The official added that the Finance Ministry was commissioned by Prime Minister Nouri al-Maliki to receive the loan procedures and agree on an appropriate method to pay back the money over the next ten years.
© AK News 2012
