A Saudi tanker carrying 90,000 tonnes of crude oil has arrived at a Syrian port, the first shipment following the announcement of a grant aimed at boosting Syrian refineries.
The state-run Saudi Fund for Development provided a grant in September to supply Syria with 1.65 million barrels of crude oil as part of efforts to support the country as it rebuilds its economy.
Syrian state news agency Sana said the first batch arrived at Baniyas port on Monday.
The Saudi grant aims to support Syria's development, address its economic challenges, foster the growth of vital sectors and contribute to reaching sustainable development goals, according to a statement from the fund.
It will “enhance the operations of Syrian refineries and achieve both operational and financial sustainability”.
Syria's economy has been left devastated by nearly 14 years of civil war. Since the fall of long-time leader Bashar Al Assad last year in a rebel offensive, Syria's new leaders have sought international finance for reconstruction.
Saudi Arabia has taken a central role in Syria’s economic redevelopment, with 47 agreements worth $6.4 billion signed in July at an investment forum in Damascus. The deals covered key sectors, including energy, industry, infrastructure, property, communications and information technology.
Saudi Finance Minister Mohammed Al Jadaan has said the world must support Syria's redevelopment. Reuters
“We stand with Syria,” Saudi Finance Minister Mohammed Al Jadaan said during International Monetary Fund and World Bank meetings last month in Washington.
Mr Al Jadaan chai
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