Syria and World Bank to form recovery fund
Syria and the World Bank have reached an agreement to establish a multi-donor trust fund to support recovery and reconstruction efforts in Syria. The fund aims to accelerate economic recovery, strengthen institutional capacities, and provide direct funding, with a focus on attracting private investments and encouraging reforms. The fund will be managed by the World Bank in collaboration with partners and donor countries, and aims to coordinate international support to achieve tangible results, such as improving basic services and the living standards of Syrians. This initiative responds to the Bank’s estimates that the cost of reconstruction amounts to around $216 billion, with international support from various parties, including approval of a $146 million grant to fund vital projects in the country.
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