Damascus, Dec. 12 (SANA) Finance Minister Mohamed Yisr Barnieh announced Thursday that Syria has signed the final document for a power-grid rehabilitation project with the World Bank, marking the first World Bank initiative in the country in nearly four decades.
In a post on his Facebook page, Barnieh said the project is funded through a grant rather than a loan and will support government efforts, particularly those of the Ministry of Energy, to improve electricity availability and strengthen the national economy.
Last June, the minister announced that the World Bank’s Board of Directors had approved a $146 million grant to rehabilitate electricity transmission lines in Syria.
In his latest statement, Barnieh added that additional projects are being prepared in cooperation with the World Bank across several sectors, noting that these too will be grant-funded and are expected to be announced over the coming year.
He thanked all those involved in preparing the project, from the Ministries of Energy, Foreign Affairs and Expatriates, and Finance, as well as the World Bank team, and expressed hope for continued cooperation to ensure successful implementation.
Syria’s electricity sector has been heavily affected by the decade-long war, with much of the national grid damaged in the conflict.
