Saudi and Qatar Pledge Financial Backing for Syria
Saudi Arabia and Qatar have unveiled a joint financial initiative aimed at supporting Syria’s public sector, marking a significant step toward reshaping ties with Damascus.
During a recent visit to Damascus, Saudi Foreign Minister Prince Faisal bin Farhan met with Syrian President Ahmad Al-Sharaa and Foreign Minister Asaad Al-Shaibani. The discussions underscored Riyadh’s resolve to reintegrate Syria into regional politics and the economic community. At a joint press briefing, the Saudi minister emphasized that a cooperative financial package will aid employees in Syria’s public sector.
Prince Faisal conveyed warm greetings on behalf of the Kingdom’s leadership, expressing hope that Syria soon experiences enhanced security, stability, and prosperity. He reiterated Saudi Arabia’s commitment to strengthening ties with its Syrian counterparts to foster stability and open up opportunities for an economic revival in the region.
The delegation, which included prominent figures from the economic and financial sectors, also took time to visit historical sites such as the Umayyad Mosque. The financial support package was announced shortly after a previous joint effort by Saudi Arabia and Qatar to settle Syria’s outstanding arrears with the international financial institution.
The Saudi minister lauded the recent removal of sanctions by major Western countries, noting that such steps are expected to boost public confidence and revitalize an economy that has long been hindered by restrictions. At the same time, Syrian Foreign Minister Asaad Al-Shaibani welcomed the visit, underscoring the growing economic partnership based on shared interests.
Mr. Al-Shaibani pointed to recent agreements with international companies for electricity production via gas supply, and noted a separate major energy investment deal with regional and international firms. He stressed that reconstruction in Syria would be driven by the Syrian people, welcoming any form of assistance that supports this goal.
Prince Faisal confirmed that the Kingdom would continue its longstanding support for Syria’s path toward reconstruction and economic recovery. He also highlighted the increasing interest from Saudi investors in exploring new collaborative ventures that benefit both nations.
This visit comes as part of a broader regional shift toward renewed engagement with Syria, a move that follows significant political changes and shifts in governance over recent years. Further Saudi economic delegations are expected to visit Damascus in the near future.
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