Syria’s Ministry of Finance signed six concessional development loan agreements with the Saudi Fund for Development (SFD), with a total value exceeding $403 million, to support several service and development sectors in Syria.  The agreements were signed on the sidelines of President Ahmad al-Sharaa’s visit to Saudi Arabia, in the presence of Saudi Crown Prince and Prime Minister Mohammed bin Salman bin Abdulaziz Al Saud.  According to a statement published by the Finance Ministry on its Telegram channel on Wednesday, the agreements were signed on the Syrian side by Finance Minister Mohammed Yisr Barnieh and on the Saudi side by SFD CEO Sultan bin Abdulrahman Al-Marshad.  The Finance Ministry signed the agreements on behalf of the relevant Syrian ministries and authorities. The projects cover the energy, water, health, emergency response, public works and housing sectors, as well as digital transformation in government financial services.  The projects covered by the agreements span several key sectors. They include the rehabilitation of generating units at the Aleppo Thermal Power Plant, at a cost of $90 million, to restore the plant’s generating capacity and provide a stable electricity supply to around five million people, while supporting economic and industrial activities and strengthening the stability of the national power grid.  In the water sector, the agreements include a $30 million project to modernize and develop the drinking water metering system. The project involves supplying and installing 300,000 smart prepaid water meters across the governorates and is expected to benefit around 1.5 million people, helping improve the quality of services.  A total of $105 million has been allocated to emergency services to establish, rehabilitate and equip 25 Civil Defense centers in several governorates. The project aims to strengthen emergency response and disaster management capabilities, remove rubble, clear roads and mines, reopen agricultural land and rehabilitate some roads. More than seven million people are expected to benefit.The agreements also include a $60 million project to rehabilitate damaged housing units in several areas, targeting up to 10,000 homes to improve living conditions and promote social stability.  In the health sector, $100 million has been allocated to rehabilitate, establish and equip a number of hospitals and health centers in different areas. The project aims to support the recovery of the healthcare sector, restore and improve essential and specialized health services, expand access to healthcare and ease pressure on existing medical facilities.  The agreements also cover a project worth more than $18 million for digital transformation and institutional development of government financial services. It aims to establish an integrated digital transformation system, improve the experience of service users and enhance the efficiency and transparency of government services.  These agreements represent the first tranche of a broader list of essential service projects being prepared for financing through concessional development loans from the Saudi Fund for Development. They are intended to support recovery efforts in Syria, rehabilitate infrastructure, improve basic services and strengthen institutions’ ability to deliver more efficient and sustainable services.  The agreements also come within the framework of Saudi Arabia’s support for the Syrian Arab Republic through the Saudi Fund for Development and continued development cooperation between the two countries in several priority sectors.  President al-Sharaa arrived in Riyadh earlier Wednesday at the head of a high-level delegation that included Minister of Foreign Affairs and Expatriates Asaad Hassan al-Shaibani, Defense Minister Maj. Gen. Murhaf Abu Qasra, Finance Minister Mohammed Yisr Barnieh, Minister of Industry, Trade and Consumer Protection Basel Abdul Hannan, and Director of the General Intelligence Service Maj. Gen. Abdul Qader al-Tahhan. (ICE BEIRUT)

Fonte notizia: Syrian Arab News Agency