World Bank approves $100 million grant to modernize Syria’s financial sector

LONDON: The World Bank on Friday approved a $100 million grant to help the Syrian Arab Republic build a modern, secure and digitally enabled financial sector. The grant from the International Development Association will finance the Syria Financial Sector Modernization Project, which aims to make transactions safer, faster and more transparent while broadening access to financial services, the bank said. “A modern financial system is essential for Syria’s economic recovery and future development,” Dahlia Khalifa, the World Bank’s director for the Middle East Department, said in a statement.

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