Banks Line Up Financing
Three international banks — JP Morgan, Qatar National Bank and Abu Dhabi Commercial Bank — are arranging roughly seven billion US dollars (USD) in financing tied to Syria's power sector. The package is structured as five-year debt financing, with Qatar National Bank acting as guarantor.
The arrangement would channel a large volume of foreign capital into the country, among the most significant such commitments to Syrian infrastructure in recent years.
Power Plants and an Airport
The money is earmarked for electricity generation and aviation. Plans covered by the financing include four gas-fired power plants and a solar facility with a combined capacity of about 5,000 megawatts, alongside an airport expansion.
Adding several thousand megawatts of new capacity would mark a substantial step for a grid that has struggled for years to meet demand.
Roots in a 2025 Agreement
The financing builds on a memorandum of understanding signed in May 2025 between Syria and a consortium led by UCC Holding and Power International, a group with Qatari backing. The consortium's power projects were estimated at the time at roughly seven billion dollars.
The current effort turns that outline into a funded structure that international lenders can assess and price.
Signal to Global Lenders
The involvement of a major US bank is read as a signal that the deal has reached a stage allowing it to be submitted for review and marketed within international lending markets.
Such participation, if sustained, could help reopen channels of foreign finance that had been largely closed to the country.