Saudi Fund for Development signs six development loan agreements worth over $403mln with Syria
Zawya · Zawya ·
Marking a significant step in supporting the country’s recovery through the rehabilitation of essential infrastructure, restoration of vital public services
Riyadh, The Saudi Fund for Development (SFD) has signed six concessional development loan agreements worth more than USD 403 million with the Syrian Arab Republic, marking a significant step in supporting the country’s recovery through the rehabilitation of essential infrastructure, restoration of vital public services and improvement of living conditions for communities affected by years of conflict.
The agreements, signed under the directives of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, reflect the Kingdom’s continued commitment to supporting Syria’s development priorities. The signing ceremony was witnessed by His Royal Highness the Crown Prince and Syrian President Ahmed Al-Sharaa, with SFD CEO Sultan bin Abdulrahman Al-Marshad and Syrian Minister of Finance Mohammed Yusr Barniyeh signing the agreements on behalf of their respective institutions.
Spanning six development areas, the financing will address pressing needs while strengthening the resilience of communities and public institutions across Syria.