The Saudi and Syrian defense ministries signed a military cooperation agreement on Wednesday, as relations between the two countries continue to deepen.
The pact was signed during Syrian President Ahmed al-Sharaa’s visit to Riyadh, where he met with Saudi Crown Prince Mohammed bin Salman for the second time in a month.
Although details of the military agreement have not been made public, Syria was considering helping Saudi Arabia in the war against the Iranian-backed Houthis, Reuters reported.
Over the past few weeks, Syrian Foreign Minister Asaad al-Shaibani has said Damascus was considering joining the Mecca Pact, an agreement among the Sunni countries of Turkey, Saudi Arabia, and Pakistan. Egypt has also expressed interest in joining it.
Separately, the Saudi Fund for Development signed six agreements with the Syrian Finance Ministry on Wednesday to provide more than $403 million in concessional development loans, the Syrian Foreign Ministry reported.
The funding reportedly includes $100m. to rebuild and equip damaged healthcare facilities, $90m. to rehabilitate Aleppo’s thermal-power plant, $60m. to repair housing, and $105m. to strengthen civil defense.
New int'l airport, airline expected under multibillion-dollar investment deals
Saudi Arabia has already signed major investment agreements with Syria covering energy, telecommunications, aviation, and real estate. In February, the two countries announced multibillion-dollar investment deals involving a major telecommunications project, a low-cost joint airline, and an international airport in northern Syria.
The Saudi investment fund had committed 7.5 billion Saudi riyals (nearly $2 billion) to develop two airports in Aleppo over several phases, Saudi Investment Minister Khalid al-Falih said.
Syrian Communications and Information Technology Minister Abdulsalam Haykal said the telecommunications investment, worth nearly $1b., would be implemented in two stages over 18 months to two years.
Saudi budget carrier flynas and the Syrian Civil Aviation Authority also signed an agreement to establish a new airline, flynas Syria. The joint venture will be 51% owned by the Syrian side and 49% by flynas.