Syria and World Bank to set up recovery and rebuilding fund
Syria and the World Bank have agreed to set up a multi-donor trust fund for the country's recovery and reconstruction, the two sides announced in a joint statement on Sunday. Damascus is continuing to rebuild after a civil war that lasted for more than a decade and had destroyed the country's infrastructure. The Syria Recovery and Reconstruction Trust Fund – or “Start” – is a multi-donor fund…
Syria and the World Bank have agreed to establish a multi-donor trust fund to aid in the country's recovery and reconstruction, following a civil war that lasted for more than a decade. The Syria Recovery and Reconstruction Trust Fund, or "Start," aims to provide concessional financing, investment guarantees, and technical assistance.
The agreement comes after Syria participated in recent international meetings, including the annual World Bank meetings in Bangkok. Syrian Finance Minister Yisr Barnieh expressed optimism about the new phase of cooperation with international partners. The World Bank estimates Syria's reconstruction costs to be approximately $216 billion, with infrastructure accounting for 48% of the damages.
The trust fund will help deliver basic services, strengthen institutional capacities, and expand economic opportunities.
Written by urgent.news from The National UAE's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- Syria and World Bank to set up recovery and rebuilding fund thenationalnews.com
