Iraq’s Plan to Transform Its Economy Is a Risky Bet ...Middle East

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Iraq’s Plan to Transform Its Economy Is a Risky Bet
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In May 2023, Iraq announced the Development Road, $17 billion, 1,200-kilometer rail line and roadway from a new port at Al Faw in southern Iraq to Türkiye, linking Asia and Europe. The Road is more than an upgrade to Iraq’s old infrastructure and aims to leverage Iraq’s location as a future trade corridor to solve several complex problems: unemployment, corruption, outdated infrastructure, and over-reliance on hydrocarbons at a time of declining demand for oil. The project is supported by Türkiye, and Qatar and the United…

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