President Ahmed al-Sharaa’s new authorities is making an attempt to draw overseas funding as Syria’s economic system lies in ruins.
Jordan will host a Jordanian-Syrian-American assembly on Tuesday to debate methods to help the rebuilding of Syria, its Ministry of International Affairs and Expatriates says, as Damascus seeks funding offers with worldwide firms to revive its war-ravaged economic system.
Syrian International Minister Asaad al-Shaibani and United States envoy to Syria Thomas Barrack are anticipated to attend, the ministry stated in a press release on Sunday.
Syrian President Ahmed al-Sharaa’s fledgling authorities has been grappling with the fallout from sectarian violence between Bedouin and Druze fighters within the southern province of Suwayda in addition to Israeli strikes on Syrian troopers and the capital, Damascus.
Syria’s economic system stays in tatters after almost 14 years of struggle and the ouster of longtime President Bashar al-Assad in December.
Jordan made its announcement after Damascus signed 12 agreements value $14bn on Wednesday, together with a $4bn settlement with Qatar’s UCC Holding to construct a brand new airport and a $2bn deal to ascertain a subway in Damascus with the nationwide funding company of the United Arab Emirates.
The initiatives “will lengthen throughout Syria and symbolize a qualitative shift in infrastructure and financial life”, Talal al-Hilali, head of the Syrian Funding Authority, stated throughout a ceremony on the presidential palace in Damascus.
He described the agreements as “a turning level” for Syria’s future.
Al-Sharaa and Barrack had been each current on the signing ceremony, based on Syria’s official SANA information company.
The United Nations has put Syria’s post-war reconstruction prices at greater than $400bn.
Syria’s new authorities have labored to draw funding for the reconstruction of infrastructure throughout the nation after the US and the European Union lifted sanctions on Syria within the wake of al-Assad’s ouster.
Different main developments on the funding entrance embody the $2bn Damascus Towers challenge for residential excessive rises, signed with the Italian-based firm UBAKO; a $500m deal for the Baramkeh Towers challenge, additionally in Damascus; and one other $60m settlement for Baramkeh Mall.
Final month, Saudi Arabia stated it could invest about $3bn in actual property and infrastructure initiatives in Syria.
In Might, Damascus signed a $7bn power take care of a consortium of Qatari, Turkish and US firms because it seeks to revive its crippled energy sector.