Clifford Chance (CC) has taken a lead role on an agreement which has seen German bank KfW set up an emergency relief fund for those affected by the conflict in Syria.

The foreign ministries of both Germany and the United Arab Emirates (UAE) are working with the state-owned development bank on the Syria Recovery Trust Fund, which has received initial contributions of €10m (£8.4m) from both countries.

Both Germany and the UAE are members of the Friends of Syria group, which was founded last year and now comprises more than 100 countries.

The fund is intended to help those affected by the ongoing civil war by improving the supply of clean water, energy, medical care and food and to also ensure the availability of resources for reconstruction projects when the conflict eventually comes to an end.

Denmark has also donated to the fund since the agreement was signed, making a €3.3m (£2.7m) contribution, while other Friends of Syria member countries have also pledged financial support in future.

CC is advising KfW, which will also serve as a trustee to manage financial contributions from governments, with a team led by Frankfurt banking and capital markets partner Beda Wortmann (pictured), assisted by fellow Frankfurt banking partners Loren Richards and Istanbul corporate partner Itir Ciftci.

German foreign minister Guido Westerwelle said: "Only a political solution can bring lasting peace and stability to Syria. To this end we are providing concrete assistance to support the National Coalition for Syrian Opposition Forces.

Concerns over the conflict in Syria have intensified in recent weeks following the release of footage appearing to show the use of chemical weapons. The US is currently holding off from taking military action as discussions continue, while Russian President Vladimir Putin yesterday (11 September) warned against a potential strike in an op-ed piece in The New York Times.