Syria and the World Bank Group have agreed to establish the "Syria Recovery and Reconstruction Credit Fund (START)," a multi-donor fund aimed at providing concessional financing, investment guarantees, and technical support. This agreement comes within the framework of the Syrian state's efforts to achieve economic recovery, enhance sustainable development, and encourage the attraction of private investments.
Framework and Location
The fund's objectives and institutional framework were reviewed during a high-level roundtable meeting held on the sidelines of the 2026 Annual Meetings of the World Bank Group and the International Monetary Fund in Bangkok, the Thai capital. The Ministry of Foreign Affairs and Expatriates issued a statement confirming that the World Bank will manage the fund in partnership with donors and development partners, in alignment with the Syrian state's priorities.
Commitments to Transparency and Governance
Minister of Finance Mohammad Yasser Al-Baruni, Governor of the Republic at the World Bank, pointed out that the agreement opens a new phase of cooperation to ensure resources are directed efficiently toward recovery priorities. He affirmed Syria's firm commitment to the highest standards of integrity, transparency, accountability, and good governance, thereby enhancing the confidence of international partners and ensuring tangible developmental impact benefiting the Syrian people.
For his part, Qutaiba Qadish, Director of International Cooperation at the Ministry of Foreign Affairs, stated that reaching the establishment of this fund is the result of significant coordination with international financial institutions. He clarified that this coordination aims to mobilize resources serving economic recovery priorities within a disciplined governance framework that provides confidence to all partners and donors.
World Bank Support and Private Sector
For his part, Ousmane Dione, Vice President for the Middle East, North Africa, Afghanistan, and Pakistan Region at the World Bank, said that establishing this fund represents an important step toward translating the international community's commitment to supporting Syria into practical efforts. He explained that the fund will contribute to supporting the provision of basic services, strengthening institutional capacities, and expanding economic opportunities, expressing his anticipation to work with all partners to support a comprehensive and sustainable recovery path.
The fund will work to mobilize resources from international development partners and coordinate their contributions within a framework subject to World Bank policies. It also seeks, in collaboration with the International Finance Corporation, to enhance private sector participation and stimulate investment financing, thereby supporting more sustainable and inclusive economic growth.
Source: Syrian Arab News Agency (SANA)
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