Rehabilitation of three vital bridges in the heart of Mosul improves livelihoods for more than 1 million Iraqis

Stocks and Financial Services Press Releases Wednesday March 21, 2018 08:23
Mosul--21 Mar--World Bank

Mosul, March 20, 2018 - Home to a very ethnically and religiously diverse population, Mosul is a symbol of interreligious coexistence and cultural diversity in modern Iraq. During Daesh occupation, the damage inflicted deliberately on the city and the surrounding areas within the Governorate of Nineveh has been unprecedented.

The World Bank has been supporting the Government of Iraq (GOI) in reconstruction efforts, restoration of access to basic services, building trust, and revitalizing the return of displaced persons into the liberated areas of Nineveh, particularly Mosul city.

The World Bank has been supporting the rehabilitation of three vital bridges in Mosul, namely the Mosul Al Hadid first bridge, Mosul fourth bridge and Al-Muthana second bridge, as part of the overall Iraq Emergency Operation for Development Project (EODP) of US$750 million.

This collaboration between the World Bank and the federal Ministry of Housing, Reconstruction and Public Works on the restoration of the three bridges is part of a broader joint plan that will target 14 bridges in the liberated areas to be completed by 2020. The selection of these bridges came through a consultative process between the World Bank, GOI, the Nineveh Governorate, and the Iraq Reconstruction Fund.

The restoration of the three bridges has benefited more than one million Iraqi people mainly through restoring contacts between the two parts of Mosul city and with other parts of Iraq, allowing the speedy movement of the population, improving the economic cycle and helping restore normalcy of social interaction.

The World Bank Vice President for the Middle East and North Africa Region Mr. Hafez Ghanem said in his first visit to Mosul today "The World Bank, through its projects in Mosul, and in close coordination with GOI, aims to bring back hope, energize the economy by creating jobs, and promote social cohesion. The restoration of these bridges is a symbol of re-connecting what was been broken. The World Bank reiterates its commitment to support the people of Iraq in the reconstruction and development process.".

On his side, the Nineveh Governor Mr. Nawfal Hamadi Al Sultan added "The needs of Mosul are very large, yet the rehabilitation of the three vital bridges by the GOI, with support from the World Bank, has helped to bring life back to Mosul and has contributed to the stabilization of returnees after the liberation of Mosul".

This World Bank project to rehabilitate infrastructure is complemented by another set of projects in the process of being launched aimed at addressing the social aspects of the reconstruction process, namely the Emergency Social Stabilization and Resilience Project in the liberated areas which aims to improve the livelihood and generate job opportunities, in addition to the Social Fund for Development, which aims to improve access to basic service and increase short term employment opportunities, in targeted communities across Iraq.


Latest Press Release

EXIM Thailand Extends Service Availability Period of EXIM Special Zone Credit

Mr. Pisit Serewiwattana, President of Export-Import Bank of Thailand (EXIM Thailand), revealed that EXIM Thailand is committed to development of products to serve as financial tools for entrepreneurs to broaden their trade opportunities, expand...

More Thais are going cashless during the Songkran holidays according to Visa

Visa transactions increased by 15 percent and overall spending increased six percent during Songkran 2019 compared to the year prior Visa, the world's leader in digital payments, has revealed that cashless payment options offering greater security,...

Fitch Ratings: Mozambique Project, Partex Acquisition to Boost PTTEP#s Reserves

PTT Exploration and Production Public Company Limited's (PTTEP; BBB+/Stable) recent acquisition of Partex Holdings B.V. and the final investment decision on its Mozambique liquefied natural gas (LNG) project will boost the company's reserves and...

Four broker representatives elected to be SET Board of Governors

The Stock Exchange of Thailand (SET), at the extraordinary meeting of its broker members No.2/2019 held today, announces the election of four governors to SET's Board of Governors, namely Norachet Sangruji, Director, Phatra Securities pcl; Paiboon...

mai welcomes Honda car dealer ACG on June 27

Market for Alternative Investment (mai) will list Autocorp Holding pcl, a holding company that invests in Honda dealership and car service center businesses, on June 27, under the ticker symbol "ACG". The company has a market capitalization at its...

Related Topics