RIYADH: The Saudi Fund for Development (SFD) has signed six concessional development loan agreements worth more than $403 million with Syria's Ministry of Finance to support projects in the energy, water, health, housing, infrastructure and digital transformation sectors, the Saudi Press Agency reported on Thursday.

The agreements were signed by SFD Chief Executive Officer Sultan Al-Marshad and Syrian Finance Minister Mohammed Yisr Barnieh in the presence of Saudi Crown Prince Mohammed bin Salman and Syrian President Ahmed Al-Sharaa, SPA said.

The financing package includes a $90 million project to rehabilitate generating units at the Aleppo Thermal Power Plant, which is expected to benefit around five million people. The project aims to restore the plant's electricity generation capacity, support economic and industrial activity, and strengthen the stability of Syria's national power grid.

Another agreement allocates $30 million for the modernization of drinking water services through the supply and installation of 300,000 smart water meters. The project is expected to benefit about 1.5 million people across several governorates and improve service quality.

Under the package, $105 million has been earmarked for the construction, rehabilitation and equipping of 25 civil defense centers across Syria. The initiative is expected to benefit more than seven million people and strengthen emergency response, disaster management and debris removal capabilities in affected communities.

A further $60 million will be used to rehabilitate up to 10,000 damaged housing units in various parts of the country, supporting reconstruction efforts and social stability.

The agreements also include $100 million for the rehabilitation, construction and equipping of hospitals and healthcare centers. The project aims to restore essential and specialized medical services, expand access to healthcare and ease pressure on existing health facilities.

In addition, more than $18 million has been allocated to support the digital transformation and institutional development of Syria's Ministry of Finance through the implementation of an integrated system designed to improve government financial services, efficiency and transparency.

According to SPA, the projects reflect Saudi Arabia's efforts through SFD to improve living conditions in Syria, strengthen essential services and rehabilitate infrastructure, helping communities gain greater access to sustainable basic services.

In September 2025, Saudi Arabia, through the SFD, provided two grants to Syria to help finance crude oil supplies and cover part of government employees' salaries for three months, SPA added.