World Bank Funds Syria's Financial System

The International Development Association (IDA) has approved a grant of $100 million USD to the World Bank aimed at modernizing Syria's financial sector by building a secure, digital-based financial system. The project focuses on strengthening electronic payment systems to enable 15 million transactions annually and support 500,000 individuals and businesses, including 150,000 women, to improve access to financial services more securely and transparently. It aims to enhance confidence in the Syrian financial sector, support economic growth, and facilitate better integration of Syria into the global financial system. The policymakers emphasize the importance of this update in restoring economic stability and strengthening financial integrity.

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