Bangkok, Oct. 16 (SANA) Finance Minister Mohamed Yisr Barnieh and Italian Economy and Finance Minister Giancarlo Giorgetti discussed strengthening financial cooperation, resolving Syria’s outstanding arrears to Italy and exploring debt-for-investment arrangements on the sidelines of the IMF and World Bank Group annual meetings in Bangkok.
Debt Solutions and Technical Cooperation
The Ministry of Finance said Friday that the talks focused on technical assistance, capacity-building and knowledge transfer between the two ministries.
The sides discussed possible solutions to outstanding debt, including converting debt into investments in Syria. They also addressed Syria’s obligations to the International Fund for Agricultural Development (IFAD), headquartered in Rome.
The talks also covered support for small and medium-sized enterprises, drawing on Italy’s experience to stimulate economic activity and support Syria’s recovery.
According to the ministry, Giorgetti praised the Syrian government’s reforms and transparency, expressed understanding of Syria’s requests and readiness to discuss proposed solutions. He also reaffirmed Italy’s support for Syria’s efforts to join the European Bank for Reconstruction and Development and pledged support in regional and international forums.
Bank of America Explores Investment Opportunities
Earlier Friday, Barnieh met with Bank of America executives to discuss financing opportunities for major private-sector investment projects and public-private partnerships in Syria.
The Ministry of Finance said the talks covered strategic investment opportunities and plans to develop debt-market instruments and issue bonds and sukuk. The delegation expressed interest in financing reconstruction and strategic projects, providing advisory services in bond markets and exploring co-financing or direct financing. It also expressed interest in visiting Syria to assess infrastructure projects and potential investment opportunities.
Barnieh and Central Bank of Syria Governor Safwat Raslan also met Wednesday with US Treasury officials Jonathan Greenstein and Eric Meyer on the sidelines of the meetings in Bangkok.
MHD/M.F
