World Bank grants Syria $50 million for rail upgrades, locomotives

2026-02-22 - 20:52

Syria has secured a $50 million funding package from the World Bank to support priority transport projects, Syrian media reported Sunday, as the government moves to rehabilitate infrastructure and stimulate economic recovery under the new administration. Transport Minister Yarub Badr reached the agreement during Damascus talks with Jean-Christophe Carret, the World Bank's regional director for the Middle East. Railway Rehabilitation According to SANA news agency, the funding will go toward purchasing 15 new locomotives and conducting a technical assessment of existing railway engines to determine maintenance and upgrade requirements across Syria's rail network. The transport sector is considered a central pillar of economic recovery following years of conflict and strain. Phosphate Corridor Project Officials also discussed the proposed "Phosphate Transport Corridor," aimed at facilitating phosphate shipments to export ports. They agreed to reassess its economic feasibility to update cost projections and ensure long-term viability. A technical meeting is scheduled next week to follow up on implementation steps, following virtual discussions last week between Syrian transport officials and World Bank representatives. New Administration Context The agreement follows Bashar al-Assad's flight to Russia in late 2024, ending the Baath Party's decades-long rule. A new transitional administration led by President Ahmed al-Sharaa was formed in January and has stepped up efforts to attract investment and reengage internationally to create jobs and improve living standards. Carret reaffirmed the bank's readiness to support development initiatives and stressed sustained institutional partnership.