Syria and World Bank agree to set up reconstruction fund

RIYADH — Syria and the World Bank Group have agreed to set up a multi-donor trust fund to support the country's economic recovery and reconstruction, according to a statement by Syria's Ministry of Foreign Affairs and Expatriates reported by Arab News on Sunday.

The fund, known as START, is the Syria Recovery and Reconstruction Trust Fund. It will provide concessional financing, investment guarantees, technical assistance and capacity-building support, the ministry said.

The statement said the World Bank will administer the fund in coordination with donors, development institutions and partners in Syria. It said the fund would follow priorities set by the Syrian state. The ministry said the fund is expected to help mobilise international support and accelerate economic recovery, reconstruction and institutional reforms.

Finance Minister Mohammad Yisr Barnieh said the agreement marks a new phase of cooperation with international partners. He reaffirmed Syria's commitment to integrity, transparency, accountability and good governance.

Qutaiba Kadish, director of the International Cooperation Department at the ministry and Syria's alternate governor at the World Bank Group, said the deal followed extensive coordination with international financial institutions. He said the fund would operate under a clear governance framework.

The fund's goals and operating mechanisms were discussed at a high-level roundtable held alongside the 2026 annual meetings of the World Bank Group and the International Monetary Fund in Bangkok, Thailand. Development partners from the Arab region, the European Union and the United States voiced support and said they were ready to contribute, according to the report.

The report did not give the size of the fund or name any donor committing funds.

Background

The World Bank estimated in October 2025 that rebuilding Syria after its near-14-year civil war will cost $216 billion. Damage to infrastructure, residential buildings and non-residential structures makes up most of the needs, the report said. The figure is nearly 10 times Syria's projected 2024 gross domestic product.

The International Monetary Fund expects Syria to record double-digit economic growth in 2026, with further growth in 2027, according to its August assessment cited by the report. The IMF cited improvements in agriculture, hydrocarbon production, electricity supply, trade and services.