World Bank to Support Syria with $146 Million
Taarek Refaat
The Syrian government began formal discussions on Sunday regarding a $146 million grant agreement from the World Bank, allocated to repairing electricity transmission lines with Jordan and Turkey, the first step of its kind in nearly three decades.
Syrian Finance Minister Mohammed Yusr Barnieh confirmed in a LinkedIn post that technical meetings have begun with the participation of representatives from the Ministries of Finance, Energy, and the Central Bank of Syria, along with independent experts.
A large delegation of World Bank experts, including financial, legal, and electricity sector specialists, is also participating in the discussions, in addition to remote participants from Paris and Washington.
The minister explained that the government is seeking to finalize all arrangements related to the agreement today and tomorrow, in preparation for presenting the project to the World Bank Board of Directors on June 23 for approval.
Barnieh expressed the Syrian government's commitment to implementing the project with high efficiency to ensure its success, which could open the door to a new, doubled grant in the next fiscal year, beginning in July 2025.
This grant is the first direct support provided by the World Bank Group to Syria in nearly thirty years. According to observers, this reflects the beginning of cautious international shifts in dealing with the Syrian issue at the economic level, especially in light of the country's urgent need to rehabilitate its infrastructure damaged by the war.
Barnieh called on Syrians to be optimistic about their country's future, noting that this step could be the beginning of a broader economic openness that will contribute to reconstruction and improve basic services for citizens.
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