Jeddah, March 17, 2025 – In a landmark decision that signals a new chapter for Syria’s economic
recovery and development, the Board of Executive Directors of the Islamic Development Bank (IsDB) approved the reactivation of the Syrian Arab Republic’s membership in the IsDB Group during its meeting on Sunday. This pivotal move is expected to significantly bolster Syria’s efforts towards recovery and reconstruction, while also contributing to the country’s long-term social and economic progress.
Syria, which initially became a member of the IsDB in September 1975, had seen its participation in the bank’s initiatives temporarily paused. The recent decision to reinstate Syria’s membership opens a new avenue for collaboration between the IsDB and Syria, with the bank pledging to support a wide range of development initiatives aimed at rebuilding the country and fostering sustainable growth in the wake of prolonged challenges.
The IsDB Group has had a long history of involvement in Syria, with contributions totaling approximately $632 million by the end of December 2024. This financial support has been directed toward a variety of projects designed to address the country’s pressing infrastructure, healthcare, education, and social development needs. By reactivating Syria’s membership, the IsDB will now be positioned to offer even more robust assistance, leveraging its expertise and resources to support the nation’s reconstruction efforts.
The IsDB Group reiterated its unwavering commitment to Syria, underscoring its readiness to collaborate with local authorities and international partners to promote sustainable development. The reactivation of Syria’s membership is viewed as an essential step toward facilitating economic stability, creating jobs, and improving the quality of life for the Syrian people.
This decision by the IsDB Board marks a significant milestone in Syria’s path toward recovery, with the bank playing a key role in supporting the country’s economic and social revitalization. The IsDB’s continued involvement will be instrumental in addressing the country’s complex challenges and advancing its long-term development goals.
