IMF grants Syria $100 million in aid
The World Bank's Board of Executive Directors approved a $100 million grant to support Syria's Financial Sector Modernization Project.
RastinewsThe World Bank's Board of Executive Directors has approved a $100 million grant, with no repayment required, to support Syria's Financial Sector Modernization Project. The Central Bank of Syria welcomed the grant as support for developing the financial sector and strengthening its institutional and technological infrastructure.
The funding comes through the International Development Association, the World Bank arm that provides concessional support to low-income countries.
The grant from the International Development Association will support the development of financial and credit infrastructure, payment systems and financial markets, as well as financial inclusion. It will also strengthen financial oversight, integrity systems, and anti-money laundering and counter-terrorism financing measures, through investments in systems, analytical tools and surveillance technology and by building the institutional capacity of the Financial Intelligence Unit.
The Central Bank said "the project aligns with the vision of building a modern, advanced financial and banking sector, accelerating institutional modernization, developing the capacity to meet international standards, and supporting effective integration into the global financial system."
The funding will be used to develop core financial infrastructure, restore the banking sector to working order, and strengthen the operational capacity of the Central Bank of Syria. It will also finance national payment systems, financial market infrastructure and credit systems.
The project also aims to strengthen regulatory oversight and financial stability, giving supervisory bodies the tools to monitor banks and enforce standards as activity in the sector picks back up.
The program is designed to address structural weaknesses that have long constrained the economy, including heavy reliance on cash, limited financial intermediation, outdated digital payment infrastructure and high transaction costs. Limited access to financing and disconnection from international financial channels have compounded these problems. One of the main goals is a shift toward electronic payments.
The project aims to enable the day-to-day functions of a working economy, including the payment of salaries and pensions, cross-border money transfers, the settlement of commercial transactions and the safe delivery of aid.
The approval follows contacts between Syrian officials and the World Bank's regional management.
The Ministry of Finance had also reported on August 2, 2026, that progress was being made in broader reform efforts aimed at reintegrating the country into the global financial system.
Source: Mepa News