The Saudi Fund for Development will provide Syria with $403 million in concessional loans for reconstruction as the two governments signed a defense cooperation agreement during Syrian President Ahmed al-Sharaa’s visit to Riyadh on Wednesday, Nov. 4.
The fund agreed with Syria’s Finance Ministry on six loan agreements, the Saudi Press Agency (SPA) reported. Project allocations disclosed by the agency include $100 million for health facility repairs and equipment, $60 million for damaged housing, $105 million for civil defense, $90 million to rehabilitate the Aleppo thermal power plant and $30 million for drinking water systems in Damascus and Idlib.
The governments also signed a defense cooperation agreement. Syria’s Foreign Ministry described it as the leading agreement among those announced but did not disclose its provisions. SPA reported three memorandums covering industrial cooperation, agriculture and environmental protection.
The visit followed a Riyadh meeting between al-Sharaa and Saudi Crown Prince Mohammed bin Salman on Oct. 6. Syria’s presidency said that earlier discussion included the country’s reconstruction and the restoration of damaged infrastructure and essential facilities.
Syria is also considering joining the Mecca alliance among Saudi Arabia, Turkiye and Pakistan. Syrian Foreign Minister Asaad al-Shaibani said Saturday at the Manama Dialogue in Bahrain that discussions were underway to assess Syria’s possible entry. EconoTimes previously reported on Syria’s consideration of joining the pact.
