Syria agrees with World Bank to establish credit fund for recovery and reconstruction

Syria and the World Bank Group announced an agreement to establish a multi-donor trust fund to support recovery and reconstruction in the country.

In a joint statement published by the Syrian Ministry of Foreign Affairs, the two sides said the fund aims to “provide concessional financing, investment guarantees, technical assistance, and capacity building.”

The World Bank will manage the fund in collaboration with donors and development partners and institutions for Syria, in line with priorities set by Damascus.

According to the statement, the fund will help mobilize international support and coordinate aid and financing, thereby contributing to accelerating economic recovery, reconstruction, and institutional reforms in Syria.

The statement noted that the fund’s objectives, institutional framework, and proposed operational mechanisms were reviewed during a high-level roundtable meeting dedicated to discussing recovery and reconstruction efforts in Syria, held on the sidelines of the 2026 annual meetings of the World Bank Group and the International Monetary Fund in Bangkok, the capital of Thailand.

According to the statement, development partners from the Arab region, European Union countries, the United States, regional and international financial institutions, and national, regional, and international development agencies participating in the meeting expressed their support and commitment to contributing to this initiative.

Last August, the World Bank approved a $100 million grant to Syria aimed at modernizing its financial sector and developing payment systems and banking supervision, marking a step in the resumption of the international institution’s support for the country after a 14-year hiatus.