Syria has an impeccable record of commitment to obligations related to trade contracting, said manager of the Finance and Guarantees at the World Bank WB Henry Russel. During a session on management of the risk of public and private sectors partnership held on Sunday in the context of Public-Private Partnership Conference, Russel added that the WB may contribute to supporting such a partnership between public and private sectors in Syria, noting that risk distribution is equal to distribution of responsibilities. Deputy Chairman of al-Sharq Bank's Board of Directors Fred Rafael pointed out that Syria has already undertaken the participation principle in oil exploration and production in order to provide the adequate technical support and financing. Regarding the elements which help reduce the risks that might face public-private partnership, Rafael stressed the need for enacting special legislation on defining the legal frames for the relationship between the two teams involved in the participation and for complete trust to be available, as well as for giving attention to public opinion towards such partnerships.

 

 

SANA