Syria, World Bank agree on reconstruction trust fund

Syria and the World Bank Group announced an agreement to establish a multi-donor trust fund for the country's recovery and reconstruction.

• Syria's Foreign Ministry and the World Bank Group announced the agreement Sunday in a joint statement, with the fund's objectives reviewed at a roundtable alongside the annual meetings in Bangkok.
• The World Bank will administer the fund, offering concessional financing, investment guarantees, technical support and capacity building in line with Syrian priorities.
• Finance Minister Mohammad Yusr Barnieh said the fund would direct resources to the country's recovery and reconstruction priorities.
• World Bank Vice President Othman Deion said the fund would work with the IFC to strengthen private-sector participation and investment financing.