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Syria Secures USD50M from World Bank to Modernize Transport Sector
(MENAFN) Syria has obtained a $50 million funding package from the World Bank to support key transport projects, as the government aims to restore infrastructure and boost economic recovery, according to local media reports.
Transport Minister Yarub Badr finalized the agreement during discussions in Damascus with Jean-Christophe Carret, the World Bank’s regional director for the Middle East. The funding will be used to purchase 15 new locomotives and conduct a technical evaluation of existing railway engines to determine maintenance and upgrade needs across the country’s rail network.
Officials also reviewed the proposed “Phosphate Transport Corridor,” a project intended to streamline phosphate shipments to export ports. Both sides agreed to reassess its economic feasibility, update cost projections, and ensure the project’s long-term viability.
Badr emphasized the transport sector’s pivotal role in Syria’s economic recovery and highlighted the importance of ongoing collaboration with the World Bank on infrastructure modernization. Carret reiterated the bank’s commitment to supporting development initiatives in Syria and the significance of sustained institutional partnerships. A technical meeting has been scheduled next week to follow up on implementation steps.
Transport Minister Yarub Badr finalized the agreement during discussions in Damascus with Jean-Christophe Carret, the World Bank’s regional director for the Middle East. The funding will be used to purchase 15 new locomotives and conduct a technical evaluation of existing railway engines to determine maintenance and upgrade needs across the country’s rail network.
Officials also reviewed the proposed “Phosphate Transport Corridor,” a project intended to streamline phosphate shipments to export ports. Both sides agreed to reassess its economic feasibility, update cost projections, and ensure the project’s long-term viability.
Badr emphasized the transport sector’s pivotal role in Syria’s economic recovery and highlighted the importance of ongoing collaboration with the World Bank on infrastructure modernization. Carret reiterated the bank’s commitment to supporting development initiatives in Syria and the significance of sustained institutional partnerships. A technical meeting has been scheduled next week to follow up on implementation steps.
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