Enab Baladi – Wasim al-Adawi
While Syria awaits the World Bank’s decision to provide a loan to Syria worth $146 million during its board meeting scheduled for June 24, the Syrian Minister of Finance, Mohammed Yosr Bernieh, confirms that the amount is a grant, not a loan, and is designated for the project of reforming electricity transmission lines with Jordan and Turkey.
He denied that “there are any conditions that Syria must comply with to receive the grant.”
Minister Bernieh asserts in an interview with Enab Baladi that “the Syrian state is not inclined to borrow from any international financial institution at this time.”
He promised that if Syria decides to borrow, it will do so transparently, stating, “If we decide to borrow one day, we will be honest with our people and transparent in explaining the reasons.”
Minister Bernieh expects Syria to receive another grant next year and in subsequent years, which “could reach one billion dollars annually within three years.”
Bernieh emphasizes in his dialogue with Enab Baladi that “the Syrian state is keen on the integrity of public fund spending.”
He discussed the conditions of grants and the requirements of the World Bank in cases of borrowing. Below are the details of the interview:
A grant, not a loan
There is some confusion among some regarding this planned grant from the World Bank to Syria. Is it a loan (to be repaid in installments with interest, and if so, what is the grace period to start repayment), or is it a free aid from the bank to Syria?The grant that Syria applied for from the World Bank, amounting to $146 million, is not a loan but a free financial aid; therefore, it does not carry interest, fees, or installments, and it does not need to be repaid in any way. The Syrian state is not inclined to borrow from any international financial institution at this time.
Syria is eligible to receive numerous international grants, and the Ministry of Finance will work to benefit from all available grants from regional and international institutions and United Nations agencies that serve its interests and needs, in coordination with the relevant Syrian ministries and bodies.
The Syrian state is not inclined to borrow from any international financial institution at this time.
Mohammed Yosr Bernieh shakes hands with the head of the International Monetary Fund mission to Syria, Ron van Rooden – April 23, 2025 (Minister Mohammed Yosr Bernieh’s LinkedIn account)
Designated for electricity
Will the grant to Syria be paid in one lump sum or in installments conditional on completing each phase of the electricity reform project with Jordan and Turkey, and has Syria finalized arrangements to submit the grant request to the World Bank?Yes, the Syrian government has completed all arrangements related to the grant request in coordination between the Ministry of Finance and the Ministry of Electricity. We have concluded discussions regarding the grant agreement and the consensus on all administrative and logistical provisions during two sessions of joint discussions. The request is now under consideration by the World Bank’s board, which is scheduled to meet on June 24 and look into the grant listed on its agenda.
Once the grant is approved, the Syrian government will begin its procedures to launch the project of reforming electricity transmission lines with Jordan and Turkey.
The “grant application file is clear and complete, and there are no obstacles or difficulties hindering the approval of the grant because Syria is eligible to receive it. We express our gratitude for the cooperation of the World Bank’s management and the brotherly and friendly countries. Once the grant is approved, the Syrian government will initiate its procedures to launch the project of reforming electricity transmission lines with Jordan and Turkey, along with the necessary contracts with the concerned parties to implement the project, and the grant will be transferred to Syria to be spent under the supervision of the Ministry of Finance.
Yes, Syria must submit progress reports to the World Bank regarding the implementation of the project to ensure that the grant is used in the context and field agreed upon in the grant contract. We are keen to comply at the highest level, as this will open the door for Syria to receive grants next year and in the coming months to implement important projects in sectors such as energy, education, health, and other priority sectors for the Syrian government.”
Support from the United States
On June 24, the World Bank’s board will consider the grant request. What criteria must Syria meet to approve this grant?The Syrian government has fulfilled all requirements and criteria to obtain the grant by presenting the project comprehensively, completing the technical studies proposed by the Ministry of Electricity, and discussing the grant agreement, as previously mentioned, alongside completing the necessary administrative procedures and correspondence. The request has been sent from both sides, as I am the governor of the Syrian Arab Republic at the World Bank, and I do not anticipate any difficulties in approving the grant, noting that there were no difficulties in this regard even before the lifting of sanctions. The United States, the largest contributor to the World Bank, supports Syria’s grant request.
The United States, the largest contributor to the World Bank, supports the Syrian grant request.
Financial aid of up to one billion dollars annually
Analysts regarding the policies of the World Bank and the International Monetary Fund (IMF) believe that the loans provided by the bank and the fund serve as a gateway for imposing their financial and economic development vision on borrower countries. This analysis has intensified in socialist countries, which view obtaining a loan from the bank and the fund as opening the door wide to international interventions in the national economy of these countries. How accurate is this in the Syrian case?There is a lot of misinformation and misunderstanding regarding the role played by the IMF and the World Bank in assisting countries, amidst a general perception clouded by a lack of true, realistic, and practical understanding of the role these institutions play in serving the countries of the world. We are not here to defend these international financial institutions; there have been successful stories, which are more common in the relationship between countries and the fund and the bank, as well as stories that have not been successful in terms of policies and programs. We are not here to evaluate these institutions and their role in assisting the countries of the world. We believe that the majority of the activities of the bank and the fund are beneficial and assist countries in advancing their financial and economic reform processes, rehabilitating all sectors, building capacities, and training. The success or failure of these reforms primarily depends on the countries themselves.
The conditions imposed by the World Bank or IMF are only related to requests for loans. These conditions aim at two things: first, to ensure the borrowing country’s ability to repay, and second, to assist the borrowing country in reforming the conditions that led it to resort to borrowing. If it has imbalances in its balance of payments, a deficit in its general budget, or structural imbalances in the economy, the fund then provides programs for the borrowing country in agreement with it to reform its policies. The fund and the bank have the right to ensure the borrowing country’s ability to repay. In all these cases, the success of the borrowing process requires popular acceptance and that the borrowing country be capable of implementing reform programs.
Syria is not in a position to borrow from the IMF and World Bank at this stage; therefore, all grants received by Syria from these two institutions are free assistance.
I reiterate that regardless of all that has been mentioned, Syria is not in a position to borrow from the IMF and World Bank at this stage; thus, all grants received by Syria from these institutions are free assistance in the form of funds, technical support, capacity building, training, and rehabilitation of Syrian cadres, and there are no conditions that Syria must comply with to receive these grants.
Economic, financial, and monetary reform programs in Syria originate from our own perspectives, convictions, capabilities, and awareness of our circumstances. All these programs belong to the Syrian state, which establishes, implements, supervises, and monitors them and receives advice and consultation as it sees fit. We express Syria’s appreciation and gratitude for the support provided by the IMF and the World Bank and their commitment in recent weeks to provide everything necessary to assist in the financial and economic reform process and to help Syria build reforms across all sectors. We also express our hope that all media will avoid misunderstandings regarding the relationships between Syria and international financial institutions.
There will be other grants that Syria will receive next year and beyond, and within three years, these may reach one billion dollars annually for spending on projects determined by Syria at its discretion.
After receiving the grant in the electricity sector, there will be other grants that Syria will obtain next year and beyond, which may reach one billion dollars annually within three years to spend on projects defined by Syria according to its priorities, whether in the energy, water, education, health, social affairs, or poverty alleviation sectors. The Syrian state will determine the spending priorities for these grants and ensure they are allocated properly.
If we ever decide to borrow, we will be transparent with our people, explaining the reasons, and the funding provided will go toward strategic projects that cannot be fully funded by private investments.
If we ever decide to borrow, we will be transparent with our people, explaining the reasons.
The Managing Director of the IMF, Kristalina Georgieva, Syrian Minister of Finance Mohammed Yosr Bernieh, and President of the World Bank Group Ajay Banga, just before the roundtable discussion on Syria on the sidelines of the spring meetings of the IMF and World Bank held in Washington D.C. – April 26, 2025 (Al-Sharq)
Integrity and efficiency
If the grant is approved by the World Bank, will a request be made for additional multiplied grants from the bank, or is it dependent on the economic variables in Syria and revenues?The grant from the World Bank will serve as a basis for obtaining other grants, and next year there may be a larger amount from the grant that could reach up to $250 million. Similarly, in the year that follows, with the progress of reforms, Syria may be eligible for grants that could reach up to $1 billion annually just from the World Bank Group (as previously mentioned). Additionally, there are many grants that Syria will benefit from through institutions and international development agencies.
We are keen to spend every dollar of these grants in a proper and correct manner to maximize the benefit from grants in priority government projects, ensuring efficiency and integrity in spending to build trust and credibility with international institutions. The Syrian state is keen on the integrity of public spending and aims to show the world Syria’s appreciation to all those who support it.
The Syrian state is committed to the integrity of public spending and aims to demonstrate Syria’s appreciation to the world for all who support it.
Humanitarian needs remain immense and increasingly complex in Syria, where 16.5 million Syrians require protection and humanitarian assistance. More than half of the population suffers from food insecurity, while around three million Syrians face severe food insecurity, according to a briefing provided by Ramesh Rajasingham, the Director of Coordination at the United Nations Office for the Coordination of Humanitarian Affairs (OCHA) to the Security Council via video from Geneva on May 21.
Minister of Finance to Enab Baladi: Syria is eligible for grants of one billion dollars annually Enab Baladi.
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