Syrian President issues decree establishing sovereign fund to contribute to reconstruction

Syrian President Ahmad Al Shara issued a decree Wednesday establishing a sovereign development fund to contribute to the country's reconstruction.The Syrian Arab News Agency reported that the fund aims to contribute to the reconstruction, restoration, and development of infrastructure, which includes all services and facilities that support citizens' daily lives, such as roads, bridges, water and electricity networks, airports, ports, and communications networks, among others.It also aims to finance various projects through a good loan.The agency explained that the fund is an economic institution with legal personality and financial and administrative independence.Its headquarters is in Damascus and it is linked to the presidency.It is worth noting that the war in Syria, which has lasted for approximately 14 years, has resulted in the deaths of more than 500,000 people, displaced millions of Syrians inside and outside the country, and destroyed most service and economic institutions.