KfW helps to rebuild the Syrian economy

• State visit by President Ahmed al-Scharaa to Berlin
• Financing agreements amounting to EUR 119 million for the reconstruction and support of small businesses - New prospects for internally displaced persons and returnees
• Christiane Laibach: "Continuous commitment to development cooperation pays off."

KfW is helping to rebuild the Syrian economy. Since the beginning of last year, it has been working on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ) in order to conclude contracts for grants amounting to EUR 119 million. KfW announced this on the sidelines of a meeting between Syrian President Ahmed al-Sharaa, German Foreign Minister Johann Wadephul and Member of the Executive Board of KfW Christiane Laibach.

The central starting point is the reconstruction of markets and production facilities to secure the supply of vital resources. The focus is also on basic infrastructure, such as hospitals.

“Continuous commitment to development cooperation pays off”,

said Christiane Laibach, member of the Executive Board of KfW.

"For years, KfW has been supporting the Syrian population with regularly adapted projects. Now the task is to build economic structures to strengthen economic development and improve local people's lives. We place great importance on involving the local population and offering a future to returnees and internally displaced refugees."

The new projects supported by KfW include:

• In cooperation with the United Nations Children’s Fund, UNICEF, grants amounting to EUR 40 million will be used for the water and wastewater sector, as well as for schools and psychosocial care and education for children and young people.
• With the United Nations Development Programme UNDP, selected hospitals will be modernised, connected to the supply infrastructure and provided with medical equipment. The financing contribution amounts to EUR 30 million.
• A further project, which has a budget of EUR 20 million, is to revitalise key markets and trade centres, as well as rebuild production and processing facilities, such as mills, silos, slaughterhouses and spinning mills. The construction measures provide a source of income and economic growth. Up to three million Syrians stand to benefit from the project. The UNDP is also the implementation partner here.