A Sudanese advisor explains the financial financing to implement the development path , 9 MAY

 A Sudanese advisor explains the financial financing to implement the development path

5/8/2024

Mazhar Muhammad Saleh, financial advisor to the Prime Minister, Muhammad Shiaa al-Sudani, explained the financial financing for the implementation of the development road project, which starts from the southernmost point of Iraq to its northernmost point, with a length of 1,200 km.

Saleh told {Al-Furat News} agency, “The development road is one of the most important strategic economic projects that achieve regional and international economic integration of our country with the world, in addition to being one of the largest accelerators of integrated investment at the level of the national economy, in terms of sectoral interconnection in various aspects leading to generating opportunities.” Accelerated growth in gross domestic product and intense investment momentum.”

He added, "It is known that the estimated cost of the project is about 17 billion dollars, especially for the completion stages within our country, as announced a while ago, and that the contributions of the regional countries benefiting from it will undoubtedly contribute to the financing due to cross-border interconnectedness, and we look forward to finalizing the preparation of the financing model and the nature of the contributions." national, regional and international finances to implement it.”

Saleh noted, “The principle of partnership between the state and the private sector for industrial cities and logistics services linked to the development road allows for high flexibility for national contributions to projects linked to the development road, in addition to the government’s financing role.”

He stated, "In any case, the financing vision will become more clear when that model is announced, especially what is terminologically called the financial completion of this vital, strategic project for Iraq, which links the trade and investment economies of the North and South of the world."

He continued, "The financial completion tasks within the financing model indicate ways of flowing additional funds to the project, through which funds are collected from knowledgeable investors or attracting new investors, according to the financial model that will be adopted, as the financing completion is used to finance the project's growth stages, expand the scope of work in it, or to cover expenses." Additional fees will be determined according to what will be determined by the approved technical economic feasibility study for the project in all its stages upon its final announcement.”

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