RIYADH: The World Bank has allocated $50 million to support vital transportation projects in Syria as the two sides discuss ways to enhance cooperation in the fields of railway and sustainable transport.
The development comes after Syria’s Transport Minister Yarub Badr met World Bank Regional Director for the Middle East Jean-Christophe Carret at the ministry’s headquarters in Damascus to discuss ways to support and develop the country’s transport sector.
Talks focused on improving the skills of workers in the field, the Syrian Arab News Agency reported.
Funding will be secured for the purchase of 15 new locomotives, in conjunction with a study on maintaining existing locomotives to improve operational efficiency.
The move comes as the World Bank estimates Syria’s reconstruction costs at $216 billion following more than 13 years of conflict, according to its Syria Physical Damage and Reconstruction Assessment 2011–2024 report released in October.
The war impacted almost one-third of Syria’s total assets, with direct damage to infrastructure, homes, and other buildings estimated at around $108 billion.
The newly released statement said: “They also reviewed the phosphate transport corridor project and the importance of reassessing its economic feasibility to determine the necessary financial estimates and clarify the related figures to ensure its sustainability and effective development.”
It added: “Badr stressed the importance of continued cooperation with the World Bank in implementing infrastructure-related projects, noting that such cooperation contributes to accelerating Syria’s economic recovery.”
The statement further highlighted that Carret affirmed the World Bank’s willingness to back development initiatives and stressed the importance of building a long-term, sustainable partnership with Syria.
At the conclusion of the meeting, both parties agreed to convene a technical session next week to follow up on the key points discussed and fast-track cooperation between Syria and the World Bank in the relevant areas.
The discussions build on talks held last week via video conference between Badr and World Bank transport officials, which focused on the readiness of the railway network and the phosphate railway corridor project, including its economic and strategic significance.
