Syrian President Ahmed al-Sharaa has launched a major new fund intended to serve as a key tool for rebuilding the country.
The Syrian Development Fund is a national economic institution aimed at rebuilding Syria and fostering sustainable development.
The Fund will focus on reconstructing vital infrastructure like roads, bridges, water and power networks, while also supporting projects that stimulate the economy, create jobs, and empower citizens through mechanisms like interest-free loans.
It relies on contributions from Syrians both domestically and abroad, as well as international donations and grants, emphasising transparency and innovative financing to support social and economic recovery.
The announcement came during the fund’s inauguration ceremony at the Damascus Citadel in the capital, according to the Syrian Arab News Agency (SANA).
“We meet today to announce the launch of the Syrian Development Fund, through which we invite you to spend your generous funds to rebuild what the deposed regime has destroyed and restore the land they have burned into a green prosperous state,” al-Sharaa said in his address.
“The ousted regime has destroyed our economy, plundered our money, destroyed our homes and displaced our people in camps and refugee places. We meet here today to heal the wounds of beloved Syria, rebuild it with the help of its people, and return the displaced and refugees to their land.”
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Al-Sharaa added that the fund will be highly transparent and will disclose all money spent on strategic projects.
Minutes after the fund’s launch, donations surpassed $30 million, according to a SANA correspondent.
Later, state-run Alikhbariya TV said donations exceeded $60 million about an hour after the announcement.
Bashar al-Assad, Syria’s leader for nearly 25 years, fled to Russia in December 2024, ending the Ba’ath Party regime, which had been in power since 1963.
A new transitional administration led by al-Sharaa was formed in January.
