Türkiye’s transport minister repeated a projection that the Development Road could add $55 billion to the country’s economy over 10 years, while an oil-backed funding proposal and parliamentary approval remain unresolved.
Transport and Infrastructure Minister Abdulkadir Uraloğlu made the forecast at an Ankara conference Oct. 19. He had cited the same estimate in March. The proposed road and railway would carry freight from Iraq’s Grand Faw Port through Türkiye to Europe.
Uraloğlu also said planned production and logistics centers along the corridor could provide work for an average of 70,000 people a year. The employment figure, like the economic contribution, is a projection for a project that has yet to be built.
Qatar’s Ministry of Transport says roughly 1,200 kilometers of the planned route would lie inside Iraq. The wider plan includes energy and telecommunications infrastructure alongside the transport links. Türkiye, Iraq, Qatar and the United Arab Emirates signed a cooperation agreement in April 2024.
Uraloğlu cited vulnerabilities in existing transport routes as a reason to pursue the project. He said Iraq could earn income from freight crossing its territory and reduce its reliance on oil revenue. For Türkiye, he pointed to economic activity and jobs associated with the corridor and its planned facilities.
The financing discussion concerns a proposed oil-backed fund. Iraqi News Agency reported Oct. 10 that Fadhil Abbas, director of the projects department at Iraq’s state railway company, said Iraq was working toward an agreement with Türkiye to finance project work by Turkish companies through such a fund. Abbas said a separate first phase would be financed by a World Bank loan. No agreement on the oil-backed fund was announced.
Uraloğlu said parliamentary approval is being sought before construction begins. He gave no date for a decision.
