Saudi Loans Approved
The board of the Saudi Fund for Development has approved $406 million in financing for six projects in Syria, the country's finance minister said on 17 October 2026. The approval followed talks with the fund's chief executive, Sultan Abdulrahman Al-Murshid, held on the sidelines of the annual meetings of the International Monetary Fund and the World Bank in Bangkok.
The money will be extended as concessional, or soft, loans. A first package covering the six projects is expected to be signed with the Syrian government within days, officials said.
Six Sectors Targeted
The approved projects span electricity, water, health, housing, emergency response, and digital transformation. The financing was framed around a "Syria without camps" vision, directing projects toward services that help displaced residents return home, including schools, hospitals, and basic infrastructure.
The Syrian delegation said it was open to partnering with Saudi companies to carry out the work, and that further projects in education, agriculture, housing, and livelihoods were being prepared for financing in a later phase.
Toward $1.5 Billion
Beyond the initial tranche, preliminary discussions cover projects worth up to $1.5 billion in total, to be implemented over the coming months. A second package remains under study, with the possibility of amending proposals submitted earlier in the year.
The commitments rank among the larger external financing arrangements Syria has secured since it intensified its engagement with international financial institutions, a theme that has dominated its presence at this week's Bangkok meetings.
Other Lenders Engaged
On the same sidelines, the finance minister met the acting head of the Kuwait Fund for Arab Economic Development to seek a fair settlement of Syria's outstanding arrears. Resolving those debts would clear the way for the Kuwaiti institution to resume financing infrastructure projects; no figures were disclosed for the arrears or for any new lending.
Separate meetings with two major Japanese banks focused on investment opportunities inside Syria, part of a widening effort to draw both concessional and commercial capital toward reconstruction.