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Syria Signs $403M Loans

Syria Signs $403M Loans

Syria and the Saudi Fund for Development signed six concessional development loan agreements in Riyadh on Wednesday, worth more than $403 million, during transitional President Ahmed al-Sharaa’s visit to Saudi Arabia. The financing will go toward establishing and rehabilitating 25 civil defense centers ($105 million); supporting hospitals and health centers ($100 million); rehabilitating generating units at the Aleppo Thermal Power Plant ($90 million); restoring 10,000 housing units ($60 million); installing 300,000 smart water meters ($30 million); and digitizing government financial services, at a cost of more than $18 million. The agreements were signed on Syria’s behalf by Finance Minister Mohammed Yisr Barnieh and, on behalf of the Saudi fund, by its CEO, Sultan bin Abdulrahman Al-Murshid.

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