Talks in Bangkok
Syria's Finance Minister, Mohammad Yusr Barnieh, met a delegation of managers from Bank of America on the sidelines of the annual meetings of the International Monetary Fund (IMF) and the World Bank in Bangkok in mid-October 2026. The discussions centered on financing investment and strategic projects inside Syria, and the finance ministry announced the meeting publicly.
The Syrian delegation also included the governor of the Central Bank of Syria and officials from the international cooperation department of the Ministry of Foreign Affairs and Expatriates, signaling that both fiscal and monetary authorities were involved in the outreach.
Interest From a US Bank
Bank of America, described as the second-largest US bank by assets, expressed strong interest in financing reconstruction and strategic projects in Syria. Its representatives said the bank could take part either by co-financing alongside other lenders or by providing full financing for selected projects.
The bank also signaled that a team would travel to Syria to review infrastructure projects on the ground, a step toward assessing where commercial lending might eventually be deployed and which sectors could absorb outside capital.
Building a Bond Market
Syrian officials said they want major international banks to finance large private-sector investment projects and public-private partnerships rather than relying on state budgets alone. They outlined plans to develop debt-market instruments, including government bonds and Islamic sukuk.
In response, the US bank offered advisory services to help Syria build a functioning bond market, an area the authorities say they want to develop as part of broader financial reform.
Return to Global Finance
The meeting is part of a broader Syrian effort during the Bangkok gatherings to rebuild relationships with international financial institutions and to attract private capital after a long period of isolation. Engagement with a major American commercial bank marks an early step in that process, alongside parallel contacts with multilateral lenders.
Officials framed the outreach as a way to channel foreign financing into reconstruction and private investment, rather than relying on public funds and grants alone. No binding financing agreement was announced, and both sides described the talks as exploratory.