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World Bank grants $100M to Syria's financial sector
The World Bank has approved a grant of $100 million from the International Development Association to support the modernization of the financial sector in Syria. The project aims to develop the financial infrastructure, rehabilitate the banking sector, and enhance supervision and financial stability, with the goal of improving the speed and security of financial transactions and increasing transparency. This will be achieved particularly through supporting electronic payment systems and expanding digitization efforts. Additionally, the project focuses on enabling over 15 million electronic transactions annually and assisting 500,000 individuals and businesses in using digital services, including 150,000 women, to increase access to finance and promote economic activity and trade.
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