Elaf fund will finance initiatives with buy-in from Saudi traders committing $2bn for 2 airports in Aleppo metropolis.
Printed On 7 Feb 2026
Syria and Saudi Arabia have signed a serious funding bundle spanning aviation, power, actual property and telecommunications as Damascus’s new management seeks to rebuild after a devastating 14-year civil war.
Syrian Funding Authority chief Talal al-Hilali introduced a swath of offers on Saturday, together with the event of a brand new worldwide airport in Aleppo, the launch of a low-cost Syrian-Saudi airline, and a telecommunications challenge referred to as SilkLink geared toward turning the nation right into a regional hub.
Advisable Tales
record of 4 gadgetsfinish of record
Saudi Arabia has been a serious backer of Syria’s new leaders, who took energy after toppling longtime ruler Bashar al-Assad in December 2024, with this newest deal marking the most important funding since america lifted sanctions on the nation in December.
Saudi Funding Minister Khalid al-Falih mentioned the newly launched Elaf fund, which goals to finance large-scale initiatives with participation from Saudi private-sector traders, would commit $2bn (7.5 billion Saudi riyals) to develop two airports within the Syrian metropolis of Aleppo.
Rebuilding Syria’s economic system
Abdulsalam Haykal, Syria’s minister of communications and data expertise, mentioned his nation will see practically $1bn in funding within the telecommunications sector, with plans to put 1000’s of kilometres of cable to spice up connectivity between Asia and Europe.
Saudi finances service Flynas and the Syrian Civil Aviation Authority introduced they signed an settlement to determine a brand new airline referred to as “Flynas Syria”, which might be 51 % owned by the Syrian aspect and is slated to begin operations within the fourth quarter of 2026.
Syria’s Ministry of Vitality additionally signed a water settlement with Saudi Arabia’s ACWA Energy, which is understood for working initiatives in energy technology and desalinated water manufacturing vegetation within the Center East and past.
Al-Hilali mentioned the agreements focused “very important sectors that affect individuals’s lives and kind important pillars for rebuilding the Syrian economic system”.
Tom Barrack, the US envoy to Syria, recommended the Saudi-Syrian deal on X. “Strategic partnerships in aviation, infrastructure, and telecommunications will contribute meaningfully to Syria’s reconstruction efforts,” he mentioned.
However Benjamin Feve, senior analysis analyst at Karam Shaar advisory, sounded a extra cautious word, saying the offers mattered “much more as a political sign than as an financial sport changer” within the quick time period.
The federal government has confronted criticism over the previous yr for making broad improvement guarantees primarily based on written pledges with international traders, lots of which have but to be transformed into binding contracts.
