Former Syria central bank chief urges investment in reconstruction
QAMISHLI, Syria (North Press) – Syria needs international investment banks to help finance its reconstruction and infrastructure projects, former Central Bank Governor Abdulkader Husrieh said on Wednesday, arguing that traditional commercial lenders cannot provide the long-term capital required.
Speaking to The Banker, Husrieh said that the World Bank’s estimate of $216 billion for Syria’s reconstruction would not be enough to transform the country’s economy, as rebuilding infrastructure alone would only restore pre-war conditions.
“We want to go to the future,” Husrieh said, highlighting potential investments in power generation, roads, ports, energy and fiber-optic networks.
He added that investment banks could help turn infrastructure projects into commercially viable public-private partnerships and mobilize long-term financing. Commercial banks, he added, face maturity mismatches when financing large projects over extended periods.
Husrieh cited power generation and the redevelopment of Damascus airport as examples of projects moving from memorandums of understanding toward agreements.
He pointed out that Syria was open to greater foreign participation in its banking sector, particularly from Arab countries. Regional banks and investors could help recapitalize Syrian lenders affected by non-performing loans and exposure to Lebanon.
Syria’s financial sector has begun reconnecting with international markets following the easing of Western restrictions. However, Husrieh said rebuilding correspondent banking relationships would require the country to demonstrate effective anti-money laundering and counterterrorism financing controls.
Syria remains under increased monitoring by the Financial Action Task Force, posing an additional challenge to its integration into the global financial system.
Husrieh served as central bank governor from April 2025 to May 2026 and is now Syria’s ambassador to Canada.