ISTANBUL — Kurdistan Region’s infrastructure has been neglected due to the financial constraints resulting from the reduced oil prices, said Darbaz Kosrat Rasool, Kurdistan Regional Government (KRG) Minister of Housing and Construction, on Friday.
The infrastructure plan dominated by the need to fix and rebuild roads in the Kurdistan Region will require $5 billion. About $1.4 billion is required just for the completion of 97 strategic road and housing projects, noted Rasool.
"Only 56 main projects, out of 218, were completed", said he, as quoted by Kurdistan24.
Rasool cited the 2014 financial crisis as the culprit of the slow progress. Most of the planned projects have been delayed, as the set deadline for 2018 cannot be reached with the current financial deficit.
He further added that the internationals loans earmarked for roadwork in Iraq have been not been forwarded to the Kurdistan Region. Baghdad has not been providing financial assistance to the region, said Rasool.