Saudi Arabia Unveils Ambitious $2 Billion Investment in Syria's Future

Saudi Arabia has announced a $2 billion investment in various sectors in Syria, including energy, aviation, and real estate, in support of Syria's new leadership. This involves a major investment fund, a new airline, and agreements in the water sector, marking a significant economic engagement post-sanctions.

Saudi Arabia announced a substantial $2 billion investment package in Syria on Saturday, spanning across pivotal sectors such as energy, aviation, and telecommunications. This move positions Saudi Arabia as a key supporter of Syria's emerging leadership.

A Saudi investment fund, the Elaf Fund, will allocate 7.5 billion Riyals to projects like the development of two airports in Aleppo. The initiative aims to draw participation from Saudi private-sector investors, according to Saudi Investment Minister Khalid al-Falih.

The deal also includes the launch of a new airline, 'flynas Syria,' in collaboration with the Syrian Civil Aviation Authority. This venture is set to enhance civil aviation operations by 2026, following the lifting of U.S. sanctions and reflecting renewed Saudi economic partnerships.

(With inputs from agencies.)