Iraq and Türkiye have reached a new economic agreement to execute the strategic 'Development Road' project under an oil-for-funding mechanism. This agreement aims to accelerate construction operations for the international commercial transit corridor. According to the agreed terms, the financing for the first phase of this mega-project will be secured through a loan provided by the World Bank. This financial backing will pave the way for launching core infrastructure works, including rail networks and highways. The Development Road serves as a strategic corridor connecting the Grand Faw Port in southern Iraq to Türkiye's transportation network and European markets, significantly bolstering regional economic integration and trade logistics [Source](https://www.google.com/search?q=)