The Kreditanstalt für Wiederaufbau (KfW) will return to Syria in August as the first German bank to do so. According to the Pro-Newsletter Industrie und Handel from the magazine Politico, Anna-Christine Janke is slated to lead the Damascene office.
KfW has specified that it does not intend to finance the Syrian government directly. Instead, its support will be channeled through various projects run by the United Nations or NGOs. Key priorities for the reconstruction efforts include investing in health and water infrastructure, providing support for displaced persons, and bolstering the economy by assisting with the redevelopment of production facilities. The total allocated project funding is estimated at around 580 million Euros.
This return follows previous political engagement; for instance, Syria’s Interim President Ahmed al-Scharaa visited Berlin for the first time at the end of March. At that time, Chancellor Friedrich Merz had promised that the KfW and the German Agency for International Cooperation (GIZ) would open offices in Damascus soon. Originally, the KfW had closed its office and halted all operations following the outbreak of the Syrian Civil War in 2011. The bank indicates that the renewed collaboration will begin “gradually” as of 2025.
