Syria's Central Bank Governor Abdel Qader Al-Hassaria announced a technical cooperation agreement with the World Bank targeting the institution's reserves and gold administration department, marking a significant step in rebuilding Syria's financial infrastructure following years of international isolation.
The accord provides the Central Bank with specialized technical assistance aimed at strengthening reserve management practices and optimizing gold portfolio administration. Officials described the agreement as designed to enhance banking sector efficiency and build institutional capacity as Syria works to restore its place in the global financial system.
The announcement came in the context of active engagement between Syrian financial authorities and international institutions at spring meetings in Washington. During those discussions, Syrian officials and their counterparts from the World Bank and International Monetary Fund reviewed the progress of existing cooperation programs and mapped out upcoming technical missions to Damascus. The two sides also began preliminary work on a debt sustainability analysis.
Preparation is underway for Fourth Article consultations — the IMF's formal annual assessment of a member country's economy — which are expected to take place before the end of 2026. Such consultations would represent a milestone in Syria's engagement with international financial institutions, involving a comprehensive review of macroeconomic conditions, fiscal policy, and monetary frameworks.
Work is also advancing to improve Syria's economic statistics, with particular attention to external sector data and balance of payments reporting. Both are foundational inputs for any future framework governing the Syrian pound (SYP) exchange rate and for restoring the correspondent banking relationships that Syrian businesses and households need for cross-border transactions.
Strengthening reserve management is a technical prerequisite for those broader goals. Syrian authorities have made institutional reform of the Central Bank a stated priority of the transitional government's economic agenda, and the World Bank arrangement formalizes international support for that effort.
No financial amounts were disclosed in connection with the technical assistance program. The accord reflects Syria's broader effort to rebuild credible monetary institutions and restore international financial connectivity following the easing of international sanctions.