In a significant move to bolster Syria’s path to recovery, the governments of Saudi Arabia and Qatar have jointly committed $89 million in financial support. The grant is being provided through the Saudi Fund for Development and the Qatar Fund for Development to assist the nation’s public sector and broader economic stabilization efforts.
A Joint Initiative For Stability
The three-month grant is specifically targeted at supporting public sector workers to ensure the continued provision of essential services for Syrian citizens. The initiative will also support crucial budget allocations, with implementation and oversight coordinated in partnership with the United Nations Development Program (UNDP) to ensure effective deployment.
Rebuilding Regional Economic Ties
This financial commitment is the latest in a series of strategic moves aimed at reintegrating Syria into the regional economic landscape following recent political transitions. The grant follows the lifting of US sanctions and a previous joint action by the two Gulf nations to repay Syria’s $15.5 million outstanding debt to the World Bank. These steps signal a concerted effort by regional powers to foster stability and create a foundation for future investment and growth in Syria.
About The Saudi Fund for Development
The Saudi Fund for Development (SFD) is a government agency established by the Kingdom of Saudi Arabia to provide development assistance to developing countries by financing social and infrastructure projects. It aims to promote economic and social growth and foster international cooperation.
About The Qatar Fund for Development
The Qatar Fund for Development (QFFD) is a public development institution committed, on behalf of the State of Qatar, to improving the livelihood of communities around the world. It focuses on empowering populations through strategic projects in education, healthcare, and economic development.
Source: AGBI
