Iraq secures $930 million from World Bank to modernize railways
Baghdad (IraqiNews.com) – The World Bank has approved $930 million in financing to upgrade Iraq's railway network, aiming to improve trade, create jobs, and support economic diversification.
The Iraq Railways Extension and Modernization (IREM) Project will overhaul 1,047 kilometers of rail lines from Umm Qasr Port to Mosul via Baghdad, cutting travel time, increasing freight volumes, and expanding access to sustainable transport.
The investment supports Iraq's broader Development Road initiative, which seeks to turn the country into a key trade corridor linking the Gulf to Europe through Turkey.
Years of underfunding and disrepair have left Iraq's railway system struggling, making this upgrade critical to improving national and regional connectivity.
The project includes modernizing infrastructure, refurbishing locomotives, rebuilding the Baiji maintenance facility, and improving safety standards. It also aims to involve the private sector in building dry ports and logistics hubs, while generating thousands of skilled jobs.
An international firm will assist in managing implementation to ensure capacity building and efficiency.
By 2037, the revitalized railway is expected to transport over 6 million tons of freight and nearly 3 million passengers annually, benefiting 17 million people across eight governorates.
The shift from trucks to trains is expected to reduce road damage and cut maintenance costs.
Over 3,000 construction jobs will be created during implementation, with nearly 22,000 annual jobs projected by 2040 as operations expand.
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