📰 Syria Holds Talks with U.S. Treasury and World Bank on Financial Reforms

syria’s Finance Minister, Mohammed Yisr Barnieh, recently held a series of discussions with U. S. Treasury authorities and World Bank representatives to backing Syria’s economic and financial recovery. These talks took place on the sidelines of the World Bank and International Monetary Fund (IMF) Annual Meetings in Washington. Notably, in his discussions with Eric Meyer, U.

S. Deputy Assistant Secretary of the Treasury for the Middle East, Barnieh focused on capacity-building in public finance and the financial sector. The two sides also explored potential cooperation between Syria’s ministry of Finance and the U. S. Treasury.

Barnieh described the talks as “constructive and productive” in a LinkedIn post, highlighting what he termed a “significant improvement in syrian-U. S. Indeed, financial cooperation. ” Barnieh also met with Ousmane Diagana, World Bank Vice leader for the Middle East and north Africa, along with sectoral directors from the Bank. The goal was to mobilize technical backing for Syria and establish a comprehensive strategic framework for cooperation, covering all World Bank institutions and development sectors. The discussions addressed multiple key areas of cooperation, including public financial management, fiscal forecasting, financial and banking reforms, and improving transparency.

They also focused on upgrading payment systems and enhancing financial infrastructure, minister Barnieh stated. furthermore, talks focused on Infrastructure development cooperation; in energy, transport, housing, and mortgage financing along with digital transformation fostering Syria’s digital and knowledge economy, and private sector engagement improving the investment climate and supporting enterprise growth. Barnieh mentioned that a comprehensive framework document will be developed, outlining clear goals and timelines for each area of cooperation. Notably, expert teams from the World Bank will work directly with Syrian ministries and institutions, in collaboration with Syria’s Ministry of Foreign Affairs’ international cooperation team. Barnieh also met with Anna Bjerde, World Bank Managing Director for Operations, to brief her on Syria’s financial cooperation priorities. Bjerde reaffirmed the World Bank’s full support for Syria, including efforts to mobilize financial resources for the agreed programs and attract additional investment.