Talks in Damascus
Syria's Minister of Finance, Mohammad Yousr Barnieh, met on 3 November 2026 in Damascus with Imad Fakhouri, Vice President for the Middle East and North Africa at the International Finance Corporation (IFC), and an accompanying delegation. The two sides discussed cooperation in areas described as priorities for the country's economic recovery.
The IFC, the private-sector arm of the World Bank Group, has stepped up its engagement with Syrian authorities in recent weeks as Damascus seeks to rebuild ties with international financial institutions.
Financing for Smaller Firms
Central to the discussion was a proposal to establish a fund supporting startups and to expand the financing available to small and medium-sized enterprises. Officials also weighed how to draw on IFC expertise to prepare projects capable of attracting outside investment.
Barnieh said he wanted cooperation widened to stimulate private-sector investment and to develop strategic projects, adding that continued coordination was needed to turn broad areas of agreement into concrete initiatives.
Reforming State Institutions
The talks covered support for reforms in the financial sector and for restructuring government financial institutions. Public-private partnerships were presented as a mechanism to channel private capital into projects now being prepared.
Regional Connectivity Plan
Both sides reviewed the Syria Regional Connectivity Initiative, which aims at regional economic integration, the build-out of connectivity networks and infrastructure, and smoother flows of trade and investment across borders.
The initiative ties Syria's recovery to wider regional markets, a theme the two sides said they would continue to develop.
Building on Earlier Contacts
The meeting followed an earlier round of contacts. On 18 October 2026, Barnieh met a high-level IFC delegation led by Makhtar Diop on the sidelines of the annual meetings of the International Monetary Fund and the World Bank in Bangkok, where the two sides reviewed economic prospects and exchanged views on strategic projects.