Syria Intends to Increase the $493 Million in World Bank Grants
RIYADH: Syria is looking to build on $493 million in World Bank funding already secured to support power, hospitals and water, as well as education, public finances, and the banking sector.
According to the Syrian Arab News Agency, Finance Minister Mohammed Barnieh discussed the funding with officials from the World Bank, the Arab Monetary Fund, and Citigroup on the sidelines of the annual meetings of the International Monetary Fund and the World Bank Group in Bangkok.
The negotiations at the World Bank were centred on the use of current funds and the possibility of expanding their scope to help Syria develop and repair.
World Bank operations in Syria stopped when the conflict began in 2011 but resumed after the country’s political change, with Saudi Arabia and Qatar settling the country’s $15.5 million arrears to the International Development Association in May 2025.
Syria got $493 million in IDA grants for power, health, water, financial sector, public finance and education, the ministry said, SANA reported.
Barnieh met with Arab Monetary Fund Director General and Chairman Fahad bin Mohammed Al-Turki to discuss Syria’s outstanding obligations and the possibility of resuming the Arab Trade Financing Program.
They also discussed prospective lines of credit for the Finance Ministry and the Central Bank to finance government purchases, and accelerating Syria’s connection to the Arab regional payments platform.
The new negotiations follow early 2025 talks when the AMF identified five areas where it could help Syria, including resolving arrears and building institutional capacity.
Separately, Barnieh met with a Citigroup delegation to discuss growing Syrian capital markets, developing a market for bonds and other debt instruments, and progress on financial reforms. No timeline was set for implementation or any transactions.
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