Syria and World Bank Agree on Fund for Recovery and Development

Syria and the World Bank have reached an agreement to establish a multi-lateral trust fund aimed at the recovery and reconstruction of the country following more than a decade of civil war. According to a joint statement released on Sunday, the fund aims to provide concessional financing, investment guarantees, technical support, and capacity building.

Syria and the World Bank have taken a joint step to support the reconstruction of the capital, Damascus, after more than a decade of civil war. A joint statement issued on Sunday announced that it has been decided to establish a multi-lateral trust fund to finance recovery and development activities.

According to the statements, which also featured the general outlook of Damascus, the newly established fund will operate in the areas of providing concessional financing, offering investment guarantees, giving technical support, and capacity building.