Dimasheq
Syrian Finance Minister Mohammed Yusr Barnieh confirmed that all grants provided by the World Bank to Syria so far are completely free of charge and do not impose any financial burdens or obligations on the state treasury.
Speaking on Saturday, Barnieh said that Syria’s access to support from international financial institutions came as a result of adopting an approach based on transparency and governance in managing previous development financing provided by the World Bank. He considered this a factor that helped strengthen trust between the two sides and opened the way for new grants and funding opportunities.
The minister’s remarks came after the World Bank approved a new $100 million grant for Syria, provided through the International Development Association, aimed at supporting efforts to establish a modern and secure financial sector, enhance financial infrastructure, and promote the transition toward digital-based financial and banking systems.
Barnieh noted that investment in financial infrastructure represents the “cornerstone” of developing Syria’s financial sector, given its role in modernizing payment systems, improving the efficiency of financial institutions, and creating the necessary environment for economic growth.
He explained that the development funding Syria previously received covered several vital sectors, including the electricity sector with a $146 million grant, the health sector with $75 million, water services with $150 million, in addition to $20 million to support public financial management.
The Finance Minister stressed that the Syrian government continues to work on securing new grants from the World Bank in the coming months, focusing on sectors including education, agriculture, transportation, social protection, and environmental management.
According to Barnieh, ongoing efforts aim to increase the total value of World Bank grants allocated to Syria to around $1 billion over the next three years, supporting economic recovery, development, and the reconstruction of essential sectors and services.
