Syria Moves to the World Bank's Arab Group on 1 November

Finance Minister Mohammad Yosr Barnieh held talks on Saturday, 17 October, with Abdulaziz Almulla, Executive Director for the Arab Group at the World Bank Group. They discussed cooperation files, programs and activities between Syria and the World Bank. The meeting took place on the sidelines of the IMF and World Bank Annual Meetings in Bangkok, Thailand.

Move to the Arab Group

The two sides reviewed existing files ahead of Syria's transfer from the Russian Federation constituency to the World Bank's Arab Group, effective 1 November, according to the Ministry of Finance on its official channels.

Barnieh said he looks forward to the Arab Group's executive office playing an effective role in coordinating and following up on Syria-related files, and providing the support needed for the Bank's activities and the implementation of related programs.

Almulla welcomed Syria's return to the Arab Group, stating his commitment to efforts that help strengthen the Bank's services and activities in Syria and follow up on relevant files.

Meeting with the AIIB

Earlier, Barnieh met a team of senior officials from the Asian Infrastructure Investment Bank (AIIB) on the sidelines of the same meetings. The Ministry of Finance said on its official platforms that the bank's management welcomed Syria's accession to membership, and the procedures and steps to complete the membership process were discussed.

Recovery Priorities and Financing

The sides discussed Syria's recovery priorities and its infrastructure project needs in the following areas:

• Energy
• Logistics
• Transport
• Housing

The bank expressed interest in studying the financing of a number of infrastructure projects in Syria once the membership procedures are completed.