The Damascus Citadel hosted the launch of the “Syrian Development Fund” on Thursday, September 4, attended by Syria’s transitional president, Ahmed al-Sharaa, who said the initiative marks the beginning of a new phase of reconstruction after years of destruction and displacement.
During the ceremony, President al-Sharaa declared that “the defunct regime destroyed the economy, looted public wealth, and displaced the people,” adding that the fund would help “return the displaced and refugees to their land.” He urged Syrians at home and abroad to contribute to financing its projects, describing participation in reconstruction as “an honor for every citizen,” not a charitable act.
Al-Sharaa stressed that the fund would operate with full transparency, pledging to disclose every pound spent on strategic projects. He underlined that today’s achievements “would not have been possible without the great sacrifices of martyrs, the missing, and the displaced,” describing donations to the fund as “a duty upon the living toward the blood of the victims.”
The fund’s launch events were held simultaneously across all Syrian provinces on Wednesday evening.According to the state-run Syrian Arab News Agency (SANA), donations to the fund have so far exceeded $50 million, while organizers are counting on broader support from Syrians inside the country, expatriates, and private companies to finance what has been described as the “national umbrella institution for reconstruction.”
Mohammad Safwat Raslan, the fund’s director-general, said during the launch ceremony that the institution would serve as a “compass for reconstruction,” describing it as a “comprehensive vision” aimed at uniting the efforts of the state, civil society, the private sector, and Syrians at home and abroad.
He added that the fund would focus on creating tangible job opportunities and service and economic projects that “improve the lives of Syrians in every province, city, and village.”
Raslan noted that the fund aspires to be “a symbol of transparency, a driver of growth, and a beacon of stability,” stressing that the current stage represents “construction after destruction, confidence after defeat, and hope after pain.”
In July, President al-Sharaa issued Decree No. 112 of 2025 establishing the fund as an economic institution with legal personality and financial and administrative independence, headquartered in Damascus and affiliated with the Presidency of the Republic.
He also issued Decree No. 117 of 2025 appointing Raslan as director-general of the fund.
According to the decree, the fund aims to contribute to reconstruction and the rehabilitation and development of infrastructure, including roads, bridges, water and electricity networks, airports, ports, and telecommunications networks, in addition to financing multiple projects through interest-free loans.
The fund’s financial resources will rely on individual donations from inside and outside Syria, along with the “permanent donor” program offering fixed monthly contributions, as well as advertising revenues, grants, and donations accepted under applicable laws and regulations.
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