Upon Directives Of The Custodian Of The Two Holy Mosques And HRH The Crown Prince, Saudi Arabia Provides Grant To Supply Syria With 1.65 Million Crude Oil Barrels

2025-09-11 06:30:15

(MENAFN- Mid-East Info) Damascus, September, 2025, SPA – Under the directives of Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud and His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, the Kingdom of Saudi Arabia, represented by the Saudi Fund for Development (SFD), has provided a grant to supply the Syrian Arab Republic with 1,650,000 barrels of crude oil.

SFD CEO Sultan Al-Marshad and Syrian Minister of Energy Mohammed Al Bashir signed a memorandum of understanding in this regard.

The grant aims to enhance the operations of Syrian refineries and achieve both operational and financial sustainability. Its goals include supporting economic development, addressing economic challenges, fostering the growth of vital sectors, and contributing to the achievement of sustainable development goals.
The grant reflects the Kingdom of Saudi Arabia's continued efforts to improve the living conditions of the brotherly Syrian people, building on the close relations between the two countries.

About the Saudi Fund for Development:

The Saudi Fund for Development (SFD) is a government institution that provides concessional development loans, to finance projects and programs in developing countries.

Since its establishment in 1974, SFD has financed more than 800 projects and programs in over 100 countries, with a total value exceeding USD 22 billion. These projects span sectors including transportation and communications, social infrastructure, agriculture, energy, industry and mining, among others. These projects contribute to generating socio-economic growth and improving the living standards of disadvantaged communities in countries most in need. SFD's activities are guided by international development principles and support the achievement of the United Nations Sustainable Development Goals. The Fund also works to strengthen development cooperation through partnerships with regional and international organizations

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