Karam Shaar Advisory LTD

Economic Recovery or Consolidation? The Rise of Two Funds

Syria established two major funds in 2025:

Development Fund — to rebuild infrastructure, support local projects, and promote IDP returns.

Sovereign Fund — to convert state assets into investments and finance strategic sectors.

Both report directly to the presidency, with boards and directors appointed by presidential decree and no parliamentary or ministerial oversight.

This structure enables rapid and agile operations — but also opens the door to cronyism.

If the same bodies control strategy, assets, and funding, who ensures fairness?

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