IMF Says Ready to Support Syria Reconstruction when Conditions Allow

A drone view shows al-Yarmouk Palestinian refugee camp, after Syria's Bashar al-Assad was ousted, in Damascus, Syria, December 19, 2024. REUTERS/Zohra Bensemra
A drone view shows al-Yarmouk Palestinian refugee camp, after Syria's Bashar al-Assad was ousted, in Damascus, Syria, December 19, 2024. REUTERS/Zohra Bensemra
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IMF Says Ready to Support Syria Reconstruction when Conditions Allow

A drone view shows al-Yarmouk Palestinian refugee camp, after Syria's Bashar al-Assad was ousted, in Damascus, Syria, December 19, 2024. REUTERS/Zohra Bensemra
A drone view shows al-Yarmouk Palestinian refugee camp, after Syria's Bashar al-Assad was ousted, in Damascus, Syria, December 19, 2024. REUTERS/Zohra Bensemra

The International Monetary Fund stands ready to assist Syria's reconstruction alongside the international community, but the situation on the ground remains fluid, IMF spokesperson Julie Kozack said on Thursday.
Kozack told a regular press briefing that the IMF has had no meaningful contact with Syrian authorities since an economic consultation in 2009, Reuters reported.
"It's too early to make an economic assessment. We are closely monitoring the situation, and we stand ready to support the international community's efforts to assist serious reconstruction as needed and when conditions allow," Kozack said.
Less than two weeks after Syrian opposition fighters toppled Bashar al-Assad's regime and seized control of the capital Damascus, Kozack said that the emerging Syrian authorities face many difficulties after 13 years of civil war.
"The Syrian people have suffered for far too long. We hope that the country can now begin to address its deep humanitarian, social and economic challenges, and to begin the rehabilitation of the Syrian economy," Kozack said.

Kozack also said that the IMF Executive Board will meet on Friday to consider approval of a $1.1 billion disbursement to Ukraine from the IMF's $15.6 billion loan program to the war torn country.

The disbursement, part of the sixth review of the four-year Ukraine loan, would bring total program disbursements to $9.8 billion, with about $2.7 billion available for 2025, Kozack added.



Dubai Awards $5.5 Bln Metro Line Project to Consortium

The metro line will span 30 km and include 14 stations
The metro line will span 30 km and include 14 stations
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Dubai Awards $5.5 Bln Metro Line Project to Consortium

The metro line will span 30 km and include 14 stations
The metro line will span 30 km and include 14 stations

The Dubai Roads and Transport Authority (RTA) awarded on Thursday a 20.5 billion dirham ($5.5 billion) contract for the Dubai Metro Blue Line project to a consortium of three companies.

The consortium consists of Türkiye's MAPA and Limak, and China's state-owned CRRC.

The metro line will span 30 km and include 14 stations.

The project is scheduled to be completed on September 9, 2029, with construction slated to begin in April 2025. The completion date is 20 years to the day since Dubai Metro opened, initially with 10 Red Line stations, on September 9, 2009.

The Blue Line will offer “sustainable and flexible public transport solutions that enhance mobility for residents and visitors, elevate quality of life, and strengthen Dubai’s position as a global hub for events and activities,” said RTA Director General Mattar Al Tayer.

The Blue Line is expected to generate 56.5 billion dirhams in economic benefits by 2040, driven by savings in time, fuel consumption, reduced road accident deaths, and lower carbon emissions, he added.