Syria and Saudi Arabia signal multibillion-dollar funding offers
Elaf fund will finance tasks with buy-in from Saudi traders committing $2bn for 2 airports in Aleppo town.
Revealed On 7 Feb 20267 Feb 2026
Syria and Saudi Arabia have signed a significant funding package deal spanning aviation, power, actual property and telecommunications as Damascus’s new management seeks to rebuild after a devastating 14-year civil warfare.
Syrian Funding Authority leader Talal al-Hilali introduced a swath of offers on Saturday, together with the advance of a brand new global airport in Aleppo, the release of a cheap Syrian-Saudi airline, and a telecommunications challenge known as SilkLink aimed toward turning the rustic right into a regional hub.
Beneficial Tales checklist of four itemsend of checklist
Saudi Arabia has been a significant backer of Syria’s new leaders, who took energy after toppling longtime ruler Bashar al-Assad in December 2024, with this newest deal marking the largest funding since america lifted sanctions at the nation in December.
Saudi Funding Minister Khalid al-Falih stated the newly introduced Elaf fund, which targets to finance large-scale tasks with participation from Saudi private-sector traders, would devote $2bn (7.5 billion Saudi riyals) to broaden two airports within the Syrian town of Aleppo.
Rebuilding Syria’s economic system
Abdulsalam Haykal, Syria’s minister of communications and knowledge era, stated his nation will see just about $1bn in funding within the telecommunications sector, with plans to put 1000’s of kilometres of cable to spice up connectivity between Asia and Europe.
Saudi price range provider Flynas and the Syrian Civil Aviation Authority introduced they signed an settlement to ascertain a brand new airline known as “Flynas Syria”, which might be 51 % owned through the Syrian facet and is slated to start out operations within the fourth quarter of 2026.
Syria’s Ministry of Power additionally signed a water settlement with Saudi Arabia’s ACWA Energy, which is understood for working tasks in energy technology and desalinated water manufacturing crops within the Center East and past.
Al-Hilali stated the agreements focused “vital sectors that impact people’s lives and form essential pillars for rebuilding the Syrian economy”.
Tom Barrack, america envoy to Syria, recommended the Saudi-Syrian deal on X. “Strategic partnerships in aviation, infrastructure, and telecommunications will contribute meaningfully to Syria’s reconstruction efforts,” he stated.
However Benjamin Feve, senior analysis analyst at Karam Shaar advisory, sounded a extra wary notice, pronouncing the offers mattered “far more as a political signal than as an economic game changer” within the brief time period.
The federal government has confronted complaint during the last yr for making extensive building guarantees in keeping with written pledges with overseas traders, a lot of which have not begun to be transformed into binding contracts.
