Saudi Arabia has today signed major investment and partnership deals
with Syria, valued at $6.4 billion, to help rebuild the war-ravaged country’s
infrastructure, telecommunications and other major sectors.
Saudi Arabia has been a major backer of the new Syrian government,
which seized power after an Islamist-led offensive toppled longtime Syrian
ruler Bashar Al-Assad in December.
Speaking at the Syrian-Saudi Investment Forum in the Damascus
presidential palace, Saudi Investment Minister Khalid Al-Falih announced
the signing of 47 agreements and memoranda of understanding… with a
total value of nearly 24 billion Saudi riyals around $6.4 billion.
With interim President Ahmed al-Sharaa and other officials in attendance,
Syrian economy minister Mohammed al-Shaar called the forum a historic
milestone in the history of relations between our two brotherly countries.
Recall that, Syria’s 14-year civil war devastated much of the country’s
infrastructure and its new leaders are hoping to receive international
support for reconstruction efforts, which the UN estimates could cost more
than $400 billion.
