Saudi Arabia plans $406M for Syria
The Syrian government is collaborating with Saudi Arabia to finance projects worth up to $1.5 billion over the coming months, with the aim of rebuilding the Syrian economy, resuming cooperation with international financial institutions, and attracting investments. An initial funding package of $406 million has been identified and will be signed within a few days, covering vital sectors such as energy, health, housing, and infrastructure. This initiative seeks to provide essential services and create favorable conditions for Syrians to return from camps to their cities. Additionally, the International Finance Corporation is studying projects valued at nearly $1 billion to support the private sector, including sectors like energy, transportation, and agriculture. Furthermore, Syria is working on establishing a multilateral reconstruction fund designed to offer affordable financing and guarantees, with participation from the European Union, Arab countries, and development organizations, all aimed at building trust, attracting investments, and implementing strategic projects aligned with the Syrian government's priorities.
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