The Syrian government signed several agreements and memoranda of understanding with Saudi Arabia, including concessional loans, during a visit to Riyadh by a Syrian delegation led by President Ahmed al-Sharaa. al-Sharaa met Saudi Crown Prince Mohammed bin Salman on Wednesday, November 4.
The agreements and memoranda cover development, infrastructure, energy, housing, health, industry, agriculture, the environment, military cooperation and financial services, according to a brief statement issued by the Syrian Presidency following the visit.
Syria also signed several agreements with the Saudi Fund for Development (SFD) covering infrastructure, health, housing and financial services projects, according to the Saudi Press Agency (SPA).
The signing ceremony was attended on the Syrian side by the ministers of foreign affairs and expatriates, defense, finance, and industry and internal trade, as well as the head of the General Intelligence Service.
Saudi attendees included the ministers of defense, foreign affairs, energy, industry and mineral resources, and environment, water and agriculture, alongside other relevant officials from both countries.
Concessional Loans
The Syrian Finance Ministry signed six concessional development loan agreements with the Saudi Fund for Development worth more than $403 million to finance public service and development projects in Syria.
The first agreement allocates a $90 million concessional loan to rehabilitate Aleppo Thermal Power Plant (northern Syria) by repairing its electricity generation units. The Energy Ministry will implement the project.
The second agreement provides $30 million to supply and install approximately 300,000 smart drinking water meters in Damascus and Idlib (northwestern Syria). The General Directorate of Water will implement the project.
The third agreement allocates $105 million to develop Civil Defense centers in several governorates. It includes rehabilitating 12 existing centers, building 13 new ones and providing the necessary equipment, under the supervision of the Ministry of Emergency and Disaster Management.
The fourth agreement provides a $60 million loan to rehabilitate 10,000 damaged housing units in the first phase of a project to be implemented by the Ministry of Public Works and Housing.
The fifth agreement allocates $100 million to rehabilitate and equip damaged hospitals and health centers under the Health Ministry’s supervision, with the aim of improving their readiness and capacity to provide services.
The sixth agreement, worth $18.6 million, covers digital transformation and institutional development at the Finance Ministry. It includes preparing a digital transformation strategy and an implementation roadmap, establishing an office to manage the transformation, and upgrading the financial services center.
Expo 2030 Riyadh
According to official Syrian media, including the newspaper Al-Thawra al-Souriya, the agreements include a contract for Syria’s official participation in Expo 2030 Riyadh, with a listed value of $10.6 million.
The contract provides for Syria to receive exhibition space free of charge, to be handed over by December 31, 2029, along with participation support through the partnership program, according to the newspaper.
The two sides also signed memoranda of understanding on industrial cooperation, agriculture and environmental protection, according to the Syrian Arab News Agency (SANA).
Second Visit in Less Than a Month
Al-Sharaa met bin Salman in the Saudi capital, Riyadh, during a visit aimed at signing contracts and discussing matters of mutual interest.
The visit came less than a month after a similar trip on October 6 by a Syrian delegation led by al-Sharaa and accompanied by Foreign Minister Asaad al-Shaibani.
These visits come as Syrian-Saudi relations have gradually warmed since the fall of the former regime on December 8, 2024, following years of severed political ties during which Saudi Arabia supported the Syrian opposition throughout the revolution and war.
Saudi Arabia was al-Sharaa’s first foreign destination after he assumed the presidency. He visited Riyadh on February 2, 2025, and met bin Salman for talks covering political, economic and humanitarian issues, as well as energy, technology, education, health and reconstruction.