World Bank approves $146 million grant to rebuild Syria's power sector
The World Bank on Wednesday approved a USD 146 million grant to Syria aimed at rehabilitating the war-torn country's electricity sector and supporting its economic recovery after years of conflict.
According to a statement by the Bank, the funding comes from the International Development Association (IDA) and will be used to implement the Syria Emergency Electricity Project (SEEP), which seeks to repair damaged infrastructure and improve the stability of the national power grid.
The project includes the rehabilitation of high-voltage transmission lines and substations, particularly those connecting Syria regionally with Jordan and Turkey. It will also provide technical assistance for power sector development and support institutional reforms and investment planning.
The project will be implemented by Syria's General Electricity Transmission and Distribution Corporation in coordination with an international consultancy, while the World Bank will oversee the process through an external monitoring body 'to ensure compliance with environmental and financial standards,' the statement said.
Commenting on the grant, Syrian Finance Minister Yasar Barnieh said electricity is a 'key investment for economic growth, service delivery, and improving livelihoods.'
'This project marks Syria's first cooperation with the World Bank in nearly four decades, and we hope it will pave the way for a broader support program to aid Syria's path toward recovery and sustainable development,' he added, according to the statement.
Syria faces a severe electricity crisis as a result of the war, with daily supply limited to two to four hours. Most power stations have been damaged, and production has fallen to around 1,300 megawatts—far below the pre-war capacity of 9,000 megawatts.
On May 29, Syria signed a USD 7 billion agreement and memorandum of understanding with a consortium of international companies to develop its energy sector. The deal includes plans to generate 5,000 megawatts of electricity through four gas-fired power plants.
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