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Saudi Lends Syria $403m
The Saudi Fund for Development and Syria’s Ministry of Finance signed six concessional development loan agreements in Riyadh, worth more than $403 million, to fund projects in emergency services, healthcare, electricity, housing and water, as well as the development of government financial services and digital transformation. The funding comprises $105 million for civil defence centres, $100 million for healthcare, $90 million for the Aleppo thermal power plant, $60 million for housing, $30 million for water meters, and more than $18 million for digital transformation. The emergency project is expected to benefit more than 7 million people, while around 5 million are expected to benefit from improved electricity services. The agreements also aim to rehabilitate up to 10,000 housing units and install 300,000 smart water meters.
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