World Bank, Germany and France Lead Development Banks' Return to Syria

A Staggered Return to Syria

Roughly a year and a half after the fall of the Assad government, international development banks are gradually reengaging with Syria. The pace and scale of this return, however, differ considerably from one institution to another. Three actors stand out at the forefront: Germany's development finance institution, France's development agency, and the World Bank Group, while several others have opted for a more measured approach.

Germany: A Large Portfolio and an Imminent Damascus Office

Germany's KfW (Kreditanstalt für Wiederaufbau) holds the most substantial active exposure, with an ongoing portfolio valued at EUR 674 million. The institution is set to open a representative office in Damascus in August, a concrete signal of its commitment to on-the-ground engagement during Syria's rebuilding phase.

France: Active Projects and Microlending Exploration

France's Agence Française de Développement (AFD) currently has four active projects under implementation in Syria. In parallel, Proparco, AFD's private-sector affiliate, is exploring entry points into the microlending market, reflecting a broader interest in supporting grassroots economic activity and small enterprise development across the country.

World Bank Group: Eight Projects Worth USD 931 Million

The World Bank Group has launched four grant-based projects and has four additional operations in the pipeline. The combined value of this active and prospective portfolio stands at USD 931 million, making the Group the single largest international financier currently engaged with Syria's rebuilding agenda.

Other Institutions Proceed with Caution

Not all multilateral institutions are moving at the same pace. The Islamic Development Bank and the European Investment Bank have both adopted a slower tempo, refraining from committing to significant new operations while continuing to assess the evolving conditions on the ground. Neither institution has publicly announced a concrete timeline for scaling up its engagement in Syria.