The Syrian Ministry of Finance signed six concessional development loan agreements with the Saudi Fund for Development, with a total value exceeding $403 million, to support service and developmental sectors in Syria. This took place on the sidelines of President Ahmed al-Sharaa's visit to the Kingdom of Saudi Arabia, in the presence of Saudi Crown Prince and Prime Minister Mohammed bin Salman bin Abdulaziz Al Saud.
The Ministry clarified via its Telegram channel on Wednesday that the agreements were signed by Syrian Finance Minister Yasser Barnea and Saudi Fund CEO Sultan bin Abdulrahman Al-Murshed. The Ministry signed on behalf of concerned entities in the energy, water, health, emergency, works, and housing sectors, as well as digital transformation.
The agreements include the rehabilitation of generation units at Aleppo Thermal Power Station for $90 million, to restore generation capacity and provide electricity for approximately 5 million people. It also covers a drinking water metering update project for $30 million to supply 300,000 smart meters benefiting 1.5 million people, and $105 million to build 25 Civil Defense centers benefiting over 7 million people.
It noted the allocation of $60 million to rehabilitate 10,000 housing units, $100 million to rehabilitate hospitals and health centers, and a digital transformation project for government financial services worth over $18 million, to enable an integrated system that improves beneficiary experience and raises the efficiency of government services.
These agreements represent a first batch of essential service projects supporting recovery efforts and infrastructure rehabilitation, within the framework of continued developmental cooperation between the two sides. President al-Sharaa arrived in Riyadh heading a delegation comprising the ministers of Foreign Affairs, Finance, Defense, and Industry, and the head of the General Intelligence Directorate. Crown Prince Mohammed bin Salman witnessed the signing ceremony at Yammamah Palace.
He added that the Syrian delegation included Foreign Affairs Minister Asaad Hassan Al-Shaybani, Defense Major General Marhaf Abu Qasra, Industry and Internal Affairs and Consumer Protection Minister Basil Abdul Hannan, and General Intelligence Directorate Head Major General Abdul Qader Tahhan, in a visit witnessing the signing of agreements and memoranda of understanding between the two countries.
Source: Syrian Arab News Agency (SANA)
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