World Bank Approves $100 Million Grant for Syria's Financial Sector Modernization
The World Bank has approved a $100 million grant through its International Development Association (IDA) to support the modernization of Syria's financial sector. This initiative aims to establish a secure and digitally enabled financial system in Syria, focusing on safer payments, stronger financial integrity, and wider access to digital financial services. The project will enhance the country's financial and banking infrastructure, improving the safety, efficiency, and transparency of financial transactions. It is expected to enable at least 15 million electronic retail payments annually and support 500,000 people and businesses in using digital payments, including 150,000 women.