Syria and the World Bank Group have agreed to establish a multi-donor fund to support the reconstruction of the Arab Republic, according to a joint statement, APA reports citing the SANA news agency.
"The Syrian Arab Republic and the World Bank Group announced an agreement to establish the Syria Recovery and Reconstruction Trust Fund (START)," the document states. The fund is intended to provide concessional financing, investment guarantees, and technical support, as well as strengthen the country's institutional capacity.
The World Bank will manage the fund jointly with donors and development partners in accordance with priorities identified by the Syrian authorities. The mechanism is designed to mobilize international support and coordinate assistance to accelerate economic recovery, reconstruction, and institutional reform.
Syrian Finance Minister Mohammed Yasser Barnieh stated that the agreement opens a new phase of cooperation with international partners. "We reaffirm our strong commitment to the highest standards of integrity, transparency, accountability, and good governance," he emphasized.
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