Minister of Finance signs agreement to fund power plant in Syria

April 6, 2011

Minister of Finance Dr. Ibrahim Al-Assaf co-signed an agreement with his Syrian counterpart, Dr. Mohammed Al-Hussein, in Damascus today for a SR 370 million [$98.66 million] development loan. The money will be provided by the Saudi Development Fund (SDF) to help finance the construction of a power plant in Syria’s Deer Al-Zur governorate. In a statement following the signing ceremony, Dr. Al-Assaf said that the cooperation comes within the context of the directives of Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz and Syrian President Bashar Al-Assad to raise the level of bilateral relations between the two countries.