BAGHDAD: Iraq has inked a significant agreement with the International Finance Corporation (IFC), an arm of the World Bank, aimed at modernizing Baghdad’s international airport. This development comes after years of lack of investment in the war-torn nation’s crucial transportation infrastructure.
The government of Prime Minister Mohammed Shia al-Sudani formally signed the agreement with the IFC, which has pledged to “mobilize private sector capital and expertise” to revamp Iraq’s primary airport.
Under the terms of the agreement, the IFC will present “a comprehensive investment portfolio for the expansion, financing, operation, and maintenance of Baghdad International Airport,” as stated by the office of Prime Minister Sudani, who was present at the signing ceremony.
The overarching objective of the project is to “upgrade the airport’s facilities, enhance safety measures, and improve overall services, in alignment with global airport standards. This will be facilitated by a specialized international firm,” the statement added.
Baghdad’s international airport has seen little to no substantial renovations since its inauguration in the early 1980s during Saddam Hussein’s rule in Iraq. Its three terminals remain outdated, equipped with only basic amenities, and struggle to cope with the demands of peak travel periods.
In late 2022, two separate fires broke out at the airport within a span of just three days, fortunately resulting in no casualties. Subsequently, Prime Minister Sudani dismissed three airport officials in response to the incidents.
Closure of Baghdad International Airport
The international sanctions imposed in the 1990s forced the closure of Baghdad Airport, compelling travelers to make the arduous journey to Amman, Jordan, for their flights. In January 2022, a rocket attack inflicted damage on two unoccupied planes on the airport’s tarmac.
To initiate the process, the government allocated $500,000 to the Civil Aviation Authority in April to negotiate a contract with the IFC, a leading international development institution specializing in boosting the private sector in emerging countries.
Khawaja Aftab Ahmed, IFC’s Regional Director, expressed, “This agreement marks a new era in Iraqi history, allowing the country to leverage its unique geographical position, support trade, create jobs, and foster diversification.”
Despite its abundant oil resources, Iraq continues to grapple with deteriorating infrastructure and public services due to decades of conflict that have plagued the nation.
