Syria’s Finance Minister Mohammad Yusr Bernieh held talks with the International Finance Corporation (IFC) on creating a fund to support startups and expanding financing for small and medium-sized businesses.
Bernieh met in Damascus with Imad Fakhoury, IFC vice president for the Middle East and North Africa, and an accompanying delegation to discuss cooperation aimed at supporting Syria’s economic recovery.
The discussions also covered public-private partnerships, financial sector reforms, restructuring state-owned financial institutions and developing projects that can attract private investment. The sides additionally reviewed Syria’s Connectivity Initiative and its financing needs for infrastructure, trade and investment.
The proposed startup fund remains under discussion. According to the announcement, no details have been disclosed on its size, structure or launch timeline. The talks nevertheless mark IFC’s entry into discussions around financing Syria’s startup ecosystem, where early-stage capital remains limited.
Source: Riyada Plus
