investments and grants... millions of dollars are flowing through the veins of the Syrian economy.

 The Governor of the Central Bank of Syria stated in an interview with CNBC Arabia on July 4 that Syria will not resort to external debt or borrowing from the IMF or World Bank, based on a direct order from President Ahmad al-Shar’a.

Saudi Arabia and Qatar settled Syria’s last dues to the International Development Association (IDA)—the World Bank’s arm for supporting the poorest countries—amounting to $15.5 million, qualifying Syria for new financing under World Bank operational policies.

Following the payment, IDA granted Syria $146 million to support the country’s emergency electricity project and economic recovery. The Minister of Finance confirmed the aid is a grant, not a loan.

The two Arab nations also pledged to support the salaries and wages of Syrian public sector employees for three months, after securing an exemption from U.S. sanctions, allowing for a 200% wage hike starting this July.

Simultaneously, Arab and global companies announced investment projects in Syria worth billions of dollars. Key deals include:

• On May 29, 2025, the Ministry of Energy signed a major investment contract with Qatar Energy worth $7 billion to develop four gas power plants in Deir Ezzor, Mhardeh, Zayzoun, and rural Homs, plus a solar power station with a capacity of 1,000 megawatts. This would double Syria’s electricity output and create over 50,000 direct and 250,000 indirect jobs.

• On May 1, 2025, Syria’s General Authority for Land and Sea Ports signed an agreement with the French CMA CGM group, operator of the container terminal at Lattakia Port. The deal includes mutual debt settlement from the past decade and a new contract for terminal operation valued at €230 million. Revenues will be split 60% for the government and 40% for the company, with potential for higher government share as container volumes increase.

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• On June 30, the Ministry of Information signed a memorandum of understanding with Al Maha International Company to build a media and production city named “Damascus Gateway” with an investment no less than $1.5 billion. The project will include modern indoor and outdoor studios, tourism, and entertainment facilities, and is expected to create around 10,000 jobs in various creative and technical sectors.

In parallel, dozens of international grants poured into the government to support humanitarian efforts and rehabilitate health, education, small enterprise, and chemical disarmament. The most recent was a British grant of $100 million during the UK foreign minister’s visit to Syria on July 5.

Additionally, many Syrian and Arab businesspeople expressed readiness to invest in infrastructure, reconstruction, and tourism projects once sanctions are fully lifted. The Ministries of Finance and Economy are preparing a modern investment package offering multiple incentives for prospective investors.

These grants and investments have led to slow yet tangible improvements, especially in longer electricity supply hours, optimism about job creation, and a gradual decrease in unemployment and poverty. According to the UN, 90% of Syrians live below the poverty line, while hundreds of thousands of refugees are now returning home.

Moumin Sawady