MAKING SENSE OF SYRIA'S ECONOMY

Karam Shaar Advisory LTD

Syria’s Development Fund: A Rare Success Story

 

One of the bright spots in Syria’s current government is the Development Fund.

 

Built from scratch, the Fund has managed, in a short period of time, to earn the trust of major supporters such as the Saudi Development Fund, GIZ, IFC, and others.

 

It has also earned the trust of donors whose actual paid contributions have already exceeded $40 million. The Fund promised full transparency, and its first quarterly report lived up to that promise.

 

It has built a website that works as it should: transparent, automatically updated, and allowing donations to be sent from around the world despite banking restrictions.

 

In my view, the Fund still needs a board of directors and regular external financial audits.

 

But in such an environment, what has been achieved is truly admirable.

 

Bravo!

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