Syria and World Bank establish donation fund
Fund aims to raise money for Syria’s economic recovery and reconstruction. The post Syria and World Bank establish donation fund appeared first on ANBA News Agency .
Syria and the World Bank announced on Sunday (18) in Bangkok, Thailand, a new agreement to create the Syria Recovery and Reconstruction Trust Fund. According to the Syrian state news agency SANA, the World Bank will manage the fund in collaboration with donor nations and development organizations. The fund's purpose, procedures, and organizational framework were discussed during the World Bank and International Monetary Fund's (IMF) annual meetings in Thailand, which concluded on Sunday.
The fund is anticipated to receive contributions, provide access to low-interest loans, offer investment guarantees, and deliver technical support. The primary objective is to aid Syria's economic rehabilitation and reconstruction by drawing in investment and promoting the private sector. Ultimately, the goals are to enhance living standards, broaden access to basic services, and alleviate poverty.
Syrian Finance Minister Mohammad Yisr Barieh, Syria's representative at the World Bank, stated that the pact represents a new stage of collaboration. He emphasized Syria's dedication to governance and transparency standards, asserting that these principles will boost the confidence of international partners.
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