Damascus, Dec 12 (Prensa Latina) Syrian Finance Minister Mohamed Yisr Barnieh confirmed on Friday the signing of the document for a power-grid rehabilitation project with the World Bank, marking the financial institution's return to the country after a 40-year hiatus. In a message posted on his Facebook profile, Barnieh underscored that the initiative will be financed through a grant, and not through a loan, which will support the Government's efforts, particularly those of the Energy Ministry, to improve the power supply, essential for the national economic recovery.

The minister announced that new projects with the World Bank are in preparation in several sectors, also supported by grants, whose details will be released next year.

The official expressed his gratitude to the technical teams from the Ministries of Energy, Foreign Affairs, and Finance, as well as the World Bank staff, and stated his expectation of continuing to enhance cooperation to ensure the effective implementation of the agreement.

Barnieh recalled that the World Bank Board of Directors approved a 146 million dollar grant in June for the repair of electricity transmission lines, considered the institution’s first project in Syria in nearly four decades.

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