São Paulo — Syria and the World Bank reached an agreement on Sunday (18) in Bangkok, Thailand, to establish the Syria Recovery and Reconstruction Trust Fund. Syrian state news agency SANA reported that the World Bank will administer the fund in partnership with donors and development institutions.
The fund’s objectives, mechanisms and institutional structure were proposed during the annual meetings of the World Bank and the International Monetary Fund (IMF) in Thailand, which concluded on Sunday. The fund is expected to receive donations, provide access to concessional financing, offer investment guarantees and deliver technical assistance.
The funding will support the country’s economic recovery and reconstruction by attracting investment and supporting the private sector. The ultimate goals are to improve living conditions, expand access to essential services and reduce poverty.
Syria’s Finance Minister Mohammad Yisr Barieh, the country’s representative at the World Bank, said the agreement marks a new phase of cooperation. He added that Syria is committed to governance and transparency standards, saying these principles will strengthen the confidence of international partners.
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Translated by Guilherme Miranda
