BERLIN, April 10 (UPI) -- Syria will bank on the help of Germany to push forward economic reforms and attract foreign investors, Berlin said.
Germany has pledged $94 million in development aid to Syria for the next two years, the German Ministry for Economic Cooperation and Development said Monday.
The country, among other measures to boost the Syrian economy, supports micro-credits for entrepreneurs unable to secure loans from commercial banks, the ministry said. Germany co-founded Syria's first "micro-finance bank" and has supported various other initiatives, the ministry said.
Germany and Syria will also cooperate in the water and sewage, renewable energy and energy-efficiency sectors; as Syria's oil and gas reserves are gradually depleting, wind-energy usage and measures to increase energy efficiency in buildings are becoming increasingly important.
Syria, a country that aims to become more attractive to German investors, has also asked for German advice on the liberalization of Syria's Central Bank.
German Economic Cooperation and Development Minister Heidemarie Wieczorek-Zeul reaffirmed her intention to visit Syria in the first half of the year.
