UNDP Aims to Channel $1.3 Billion into Syria Rebuilding Efforts

The UNDP plans to allocate $1.3 billion over three years to help rebuild Syria, focusing on infrastructure, digital startups, and social programs. Collaborations with major financial institutions such as the World Bank and IMF are pivotal. Sanctions remain a significant challenge to the nation's recovery process.

The United Nations Development Programme is poised to inject $1.3 billion into Syria over the next three years, aiming to repair infrastructure and spark growth in digital entrepreneurship, according to Assistant Secretary-General Abdallah Dardari in an interview with Reuters.

In a comprehensive strategy, the initiative seeks to introduce artificial intelligence and social protection programs, with funding from global financial bodies like the World Bank and IMF. A pivotal roundtable discussing financial support for Syria is scheduled alongside the upcoming IMF and World Bank annual meetings.

Despite logistical plans, the persistent sanctions against Syria present significant hurdles. Dardari emphasizes the need for a resolution to these sanctions to ensure the country's growth trajectory is not hindered. The UNDP has obtained a U.S. Treasury exemption to aid infrastructure restoration efforts, beginning with the Deir Ali power plant.

(With inputs from agencies.)