Saudi Fund For Development Inks Over US$403 Mln Loans To Rebuild Syria
KUALA LUMPUR, Nov 6 (Bernama) -- The Saudi Fund for Development (SFD) has signed six concessional development loan agreements worth over US$403 million with Syria, to rebuild infrastructure and restore public services damaged by years of conflict. (US$1 = RM4.04)
The signing was witnessed by Saudi Arabia’s Crown Prince and Prime Minister Mohammed bin Salman bin Abdulaziz Al Saud and Syrian President Ahmed Al-Sharaa, with SFD Chief Executive Officer Sultan bin Abdulrahman Al-Marshad and Syrian Finance Minister Mohammed Yusr Barniyeh signing on behalf of their institutions, SFD said in a statement.
The largest loan, of US$105 million, will fund the construction, rehabilitation and equipping of 25 civil defence centres serving more than seven million people.
A further US$100 million will go to rebuilding and equipping hospitals and health centres, while US$90 million will rehabilitate generating units at the Aleppo Thermal Power Plant, restoring reliable electricity for about five million people.
The agreements also include US$60 million to repair up to 10,000 damaged homes, US$30 million to install 300,000 smart water meters serving about 1.5 million people, and US$18 million to support digital transformation at Syria’s Ministry of Finance.
The loans build on earlier Saudi Arabia assistance to Syria, including two SFD grants in September 2025 to supply crude oil and cover part of public employees’ salaries for three months.
-- BERNAMA