23 Hrs
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وكالة الأنباء القطرية
World Bank grants $100M for Syria finance modernization
The World Bank has approved a grant of $100 million from the International Development Association to support the modernization of Syria's financial sector. The project aims to build a modern, secure, and digitally flexible financial system by updating financial infrastructure and rehabilitating the banking sector, thereby enhancing access to financial services and facilitating commercial and financial transactions. The Syrian financial sector faces challenges related to reliance on cash and outdated digital payment infrastructure, which increase transaction costs and hinder integration with international markets. The project seeks to improve oversight and financial stability, support the Central Bank of Syria in enabling its core functions, with the goal of promoting economic growth and enriching trade and investment.
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