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[Adventurer]

Development Aid | 10.04.2007
Germany Expands Economic Assistance to Syria
Gro�ansicht des Bildes mit der Bildunterschrift:

Germany has offered 70 million euros in aid to Syria over the next two years Syria has enlisted the help of Germany to push forward economic reforms and attract foreign investors. In bilateral talks, Germany has renewed its commitment to Syrian development.

Negotiations between German and Syrian officials ended in Germany with a German pledge for 70 million euros ($95 million) in development aid to Syria for the next two years, the German Ministry for Economic Cooperation and Development (BMZ) announced on Tuesday.

For years, German officials have been working with the Syrian government and various economic institutions to ease Syria's transition to a social market economy. The Syrian economy has been managed centrally by the state since the 1960s, when the country nationalized most of its major enterprises. Designed to address regional and class disparities, this legacy of state intervention and price controls is now seen as hindering economic growth.

The German strategy emphasizes the promotion of micro-credits to entrepreneurs unable to secure loans from commercial banks, according to the German Development Ministry. Germany co-founded Syria's first "micro-finance bank" and has supported various other initiatives, the ministry said.

http://www.dw-world.de/dw/article/0,,2437913,00.html?maca=en-rss-en-all-1573-rdf

[jinju]

How was Poland involved?

[Octavius Hite]

It had its teeth kicked in by Germany, remember? Of course you do. Now go back to your hole and fret about commies.

[Adventurer]