Iraq and Turkey have elevated the Development Road initiative to a central area of cooperation, with both countries now exploring innovative approaches to its execution. The update was shared on May 18, 2025, by Mohammed Al-Najjar, Iraq’s Prime Minister’s Investment Advisor and head of the Iraq Fund for Development, following a recent official visit by Iraqi Prime Minister Mohammed Shia Al-Sudani to Turkey.
According to Al-Najjar, a memorandum of understanding has been signed between the Iraq Fund for Development and the Turkish Wealth Fund. The agreement is intended to pave the way for new projects along the proposed transport corridor. He noted that Turkish President Recep Tayyip Erdoğan has expressed strong interest in the role of Iraq’s fund in the development process.
Iraq is reportedly working on a revised strategic framework for the project, which is expected to span between 24,000 and 28,000 kilometers. One proposed model involves establishing a state-owned enterprise that would operate under private-sector principles. Part of the company’s shares could be made available to Iraqi citizens through public subscription. Another model under consideration includes setting up an independent governmental authority to oversee regulatory, technical, and customs-related functions.
These proposals are intended to streamline decision-making, accelerate project timelines, and strengthen Iraq’s position as a key regional hub for trade and logistics.
Source: Iraqi News – Iraq, Turkey consider new company and public shares for Development Road