On Friday, May 30, Japan officially announced the move during a government session, according to Japanese state broadcaster NHK. The decision is aimed at supporting Syria’s peaceful transition process and assisting the government’s reconstruction efforts.
Japanese Chief Cabinet Secretary Yoshimasa Hayashi said the move to unfreeze assets held by certain Syrian institutions reflects the government’s commitment to positively contributing to Syria’s recovery, in coordination with the international community.
“This decision is necessary at a time when the Syrian transitional government is working to emerge from the crisis,” Hayashi was quoted as saying by Kyodo News Agency. He added that Japan would continue coordinating with the G7 and international partners to support peace and stability in Syria.
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In a statement posted on Facebook, the Syrian Ministry of Foreign Affairs hailed the decision as a positive step toward the country’s recovery, stability, and prosperity. The ministry confirmed that the freeze was lifted on the Industrial Bank, the People’s Credit Bank, the Savings Bank, and the Cooperative Agricultural Bank.
The ministry emphasised that lifting sanctions on these financial institutions would help enhance economic and financial cooperation, while also facilitating the implementation of development projects across various sectors.
Expressing hope for stronger bilateral ties, the ministry said the move could pave the way for greater openness and constructive cooperation with Japan, based on mutual respect and shared interests.
This development follows Japan’s announcement in mid-April of a €3 million (approximately $3.5 million) contribution to the Syria Recovery Trust Fund (SRTF), aimed at supporting reconstruction efforts in the country.
