Saudi fund signs loans worth over $403 million for Syria, Saudi Gazette reports

The Saudi Fund for Development signed six concessional loan agreements with Syria on Thursday, committing more than $403 million to infrastructure rehabilitation and public services in the country, Saudi Gazette reported.

The fund’s chief executive, Sultan Al-Marshad, and Syrian Finance Minister Mohammed Yisr Barnieh signed the agreements. Saudi Crown Prince Mohammed bin Salman, who is also prime minister, and Syrian President Ahmed Al-Sharaa attended, the newspaper said. It said the package followed directives from King Salman and the crown prince.

The largest allocation is $105 million for work on 25 civil defense centers across several governorates. Saudi Gazette reported that the project would build, rehabilitate and equip facilities for emergency response, disaster management and debris handling, with an intended reach of more than seven million people.

Healthcare accounts for another $100 million. That project would fund construction, rehabilitation and equipment at hospitals and health centers, aiming to restore basic and specialist care, widen access to treatment and ease demand on hospitals already operating.

A further $90 million is earmarked for restoring generating units at the Aleppo Thermal Power Plant. The reported plan aims to strengthen electricity supplies and the national grid, with approximately five million people expected to benefit.

Housing and water projects account for $90 million combined: $60 million would help repair as many as 10,000 damaged homes, while $30 million would pay for 300,000 smart drinking-water meters. The water project is expected to serve about 1.5 million people across several governorates, according to Saudi Gazette.

More than $18 million would go to the Syrian Ministry of Finance for digital systems and institutional development. The planned integrated system is intended to make government financial services more efficient and transparent and improve users’ experience.

The financing follows Al-Sharaa’s visit to Saudi Arabia on Wednesday, when he met Mohammed bin Salman to discuss bilateral ties and regional and international issues, Economy Middle East reported.

Earlier Saudi assistance took the form of grants rather than loans. Both publications reported that Saudi Arabia provided two grants through the fund in September 2025, covering crude oil supplies and part of government employees’ salaries over three months.