Middle East Economic Survey

VOL. LIV

No 15

8-Apr-2011

syria

SFD Lends Syria $100Mn For Power Project

The Saudi Fund for Development (SFD) will lend Syria SR375mn ($100mn) to partly finance the construction of a 750mw combined cycle power plant in Deir Ez-Zor, under an agreement signed in Damascus on 6 April by the Saudi Minister of Finance (who is also chairman of the SFD board) Ibrahim al-'Assaf and his Syrian counterpart Muhammad al-Husain. The loan carries an interest rate of 2%...