Saudi Fund for Development Signs Six Development Loan Agreements Worth Over USD 403 Million with Syria

RIYADH, Saudi Arabia--(BUSINESS WIRE)--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.

A USD 90 million loan will rehabilitate generating units at the Aleppo Thermal Power Plant, helping restore reliable electricity supplies for approximately 5 million people and supporting economic activity, while a USD 30 million water project will install 300,000 smart meters to improve water service efficiency for approximately 1.5 million people.

A further USD 105 million will finance the construction, rehabilitation and equipping of 25 civil defence centres, strengthening emergency response and disaster management capabilities for more than 7 million people. In the housing sector, USD 60 million will support the rehabilitation of up to 10,000 damaged homes, improving living conditions and community stability.

The agreements also include USD 100 million to rehabilitate, construct and equip hospitals and health centres, restoring essential healthcare services and expanding access to care, alongside USD 18 million to support digital transformation and institutional development at Syria’s Ministry of Finance, enhancing the efficiency and transparency of government financial services.

Together, these projects will contribute to restoring essential services, strengthening community resilience and supporting sustainable development, building on Saudi Arabia’s continued assistance to Syria, including two grants provided through SFD in September 2025 to supply crude oil and cover part of public employees’ salaries over three months.

*Source: AETOSWire