DAMASCUS, Oct. 18 (Xinhua) -- Syria and the World Bank Group have agreed to establish a multi-donor trust fund to support the country's economic recovery and reconstruction, the Syrian foreign affairs authority announced Sunday.
In a joint statement issued by Syria and the World Bank Group, the authority said the Syria Recovery and Reconstruction Support Trust Fund would mobilize international resources to finance priority reforms, infrastructure rehabilitation and reconstruction programs.
The fund aims to provide concessional financing, investment guarantees, technical assistance and capacity building, while encouraging private investment and supporting sustainable economic development, according to the statement.
The ministry said the fund's objectives, institutional framework and proposed operating mechanisms were discussed during a high-level roundtable held on the sidelines of the World Bank and International Monetary Fund annual meetings in Bangkok, Thailand.
Mohammed Yisr Barnieh, Syria's finance chief, said the agreement marked a new phase of cooperation with international partners, helping direct resources toward the country's recovery and reconstruction priorities.
Qutaiba Qadish, director of international cooperation of the Syrian foreign affairs authority, said the agreement resulted from extensive coordination with international financial institutions to mobilize resources for economic recovery within a structured governance framework.
Syria regained eligibility for financing from the World Bank's International Development Association in May 2025 after Saudi Arabia and Qatar settled approximately 15.5 million U.S. dollars in outstanding arrears, ending a 14-year suspension of financing.
The announcement comes as Syria seeks to rebuild infrastructure, restore essential services and attract international financial support following more than a decade of conflict. ■
