Syria Discusses with World Bank a Plan to Reform Public Finance and Strengthen Governance

Syrian financial and oversight authorities, in cooperation with representatives from the World Bank, discussed a draft project document aimed at reforming public finance to enhance the efficiency of public fund management and develop financial oversight and governance systems in the country, according to official Syrian media reports on Thursday.

The meeting included representatives from the Central Financial Control Authority, the Central Inspection and Control Commission, and the Ministry of Finance, alongside a World Bank team. The session focused on the project’s implementation mechanisms and the role of oversight bodies in ensuring its application, improving transparency, and enhancing financial accountability.

According to the same sources, discussions concentrated on strengthening transparency in managing public resources, developing internal and external audit mechanisms, and supporting the institutional capacities of oversight bodies to contribute to the optimal use of resources and improve the state’s financial efficiency.

Waseem Al-Mansour, Deputy Head of the Central Financial Control Authority, described the project as “an important step in strengthening governance and embedding a results-based performance culture,” noting that the authority is working on “developing oversight tools according to international standards to protect public funds and ensure their proper allocation.”

This cooperation comes as Syria faces significant economic and financial challenges, amid budgetary pressures and declining government revenues due to internal conditions and international sanctions imposed on the country.