Saudi Fund Provides over $403m for Infrastructure and Public Service Projects in Syria
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Saudi fund provides over $403m for infrastructure and public service projects in Syria
RIYADH: The Saudi Fund for Development (SFD) has signed six concessional development loan agreements worth more than $403 million with Syria's Ministry of Finance to support projects in the energy, water, health, housing, infrastructure and digital transformation sectors, the Saudi Press Agency reported on Thursday. The agreements were signed by SFD Chief Executive Officer Sultan Al-Marshad and Syrian Finance Minister Mohammed Yisr Barnieh in th…
The Saudi Fund for Development has signed six concessional development loan agreements with the Syrian Ministry of Finance, with a total value of over $403 million, to finance projects in the sectors of electricity, water, health, housing and emergency services, as well as the development of financial services.
Following Syrian President Ahmed Shara's visit to Saudi Arabia, the two countries signed development financing agreements totaling $403.6 million covering areas such as electricity, health, housing, water, and civil defense.
Syria and Saudi Arabia have signed development financing agreements totaling $403.6 million covering electricity, healthcare, housing, water, and civil defense. These six concessional loans, with a 20-year term and a 5-year grace period, mark the first direct development financing to Syria.
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