Syria may need more than previously estimated $400 million for its reconstruction efforts, and is expecting to cover cost with the help of internal sources and foreign aid, including from Russia, Syrian Minister of Economy and Foreign Trade Samer Khalil told Sputnik on Friday on the sidelines of the St. Petersburg International Economic Forum.

“To rebuild Syria… the external funding is needed as well as internal… $400 million is not the final estimate. We are speaking about several financing vectors,” the minister said.

According to Khalil, some of the funding would be provided by the Syrian government and businesses, while the rest would come from foreign aid, mostly from Russia.

“As for the technical support [for rebuilding efforts], our companies have the required experience, but we also hope for help and support of friendly countries, with Russia at the forefront of this list. Russia is already providing this technical support,” the minister said.

Two weeks ago, Syrian President Bashar Assad estimated that it may take up to $400 billion to reconstruct Syria after the conflict, but noted that the precise number was unknown since some areas were still controlled by terrorists.

Russian companies have already proceeded with reconstructing the Syrian oil and gas industry, in particular, by rehabilitating the damaged deposits and discovering new ones, Syria’s Minister of Economy and Foreign Trade Samer Khalil said.

“Our work with Russian companies in this area is developing in two directions. The first is the development of oil and gas industry through discoveries of new deposits, and the second is the rehabilitation of damaged deposits. Russian companies have already begun working on this,” Khalil said.

ALSO READ  Battle for Hajin reaches critical stages as heavy casualties mount for all sides

He added that Syria was trying to increase the number of existing agreements with Russian companies, attracting more of them to the Syrian market.

The Syrian people have enough will and determination to make the plans of their president, Bashar Assad, to completely restore Syria within 10-15 years achievable, Samer Khalil said.

“As for the time frame of 10-15 years, which our President [Bashar Assad] mentioned, the Syrian people have enough will and drive to rebuild the country, and this drive is now only getting stronger,” the minister said.

Syria has been engulfed in a civil war since 2011, with government forces fighting numerous opposition factions and terrorist groups. Moscow has been assisting Damascus both by supporting the struggle against the terrorist groups and assisting the country in the post-war reconstruction.

The SPIEF, held annually in Russia’s second largest city of St. Petersburg, is a major networking hub for entrepreneurs and a global platform for the discussion of crucial economic issues. The event began on Thursday and will continue through Saturday. Rossiya Segodnya International Information Agency is the official media partner of the forum.

Source: Sputnik

Advertisements
Share this article:
  • 100
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
    100
    Shares
The International News Desk reports on issues and events world wide.

Notice: All comments represent the view of the commenter and not necessarily the views of AMN.

All comments that are not spam or wholly inappropriate are approved, we do not sort out opinions or points of view that are different from ours.

This is a Civilized Place for Public Discussion

Please treat this discussion with the same respect you would a public park. We, too, are a shared community resource — a place to share skills, knowledge and interests through ongoing conversation.

These are not hard and fast rules, merely guidelines to aid the human judgment of our community and keep this a clean and well-lighted place for civilized public discourse.

Improve the Discussion

Help us make this a great place for discussion by always working to improve the discussion in some way, however small. If you are not sure your post adds to the conversation, think over what you want to say and try again later.

The topics discussed here matter to us, and we want you to act as if they matter to you, too. Be respectful of the topics and the people discussing them, even if you disagree with some of what is being said.

Be Agreeable, Even When You Disagree

You may wish to respond to something by disagreeing with it. That’s fine. But remember to criticize ideas, not people. Please avoid:

  • Name-calling
  • Ad hominem attacks
  • Responding to a post’s tone instead of its actual content
  • Knee-jerk contradiction

Instead, provide reasoned counter-arguments that improve the conversation.

newest oldest most voted
Notify of
ranix
Guest
ranix

so far russia has prominently shown her unwaning pledge to help syrians besides the tireless significant syrian allies like the iranians, hezbollah, palestinians and other pro syrian groups – hopefully china will join this blessed group soon

dupon666
Guest
dupon666

may be 400 milliards (billion)…

Member
Regular
Commenter
Upvoted
Abdallah Sheikh

Actually I think it is true. Because with 100 us dollars in syria, you can live like a king with no worry. That is why Lebanon is full of cheap syrian labor working for about 400 to 500 dollars a month.

Daeshbags Sux
Member
Master
Upvoted
Rookie Mentor
Commenter
Daeshbags Sux

$400+ is what a lazy Palestinian refugee gets from the UN without working at all…
Minimum monthly wages in Algeria is $113.
Minimum monthly wages in Bulgaria or Romania are about €250…

Olim
Guest
Olim

Only four hundred million dollars? Really? What do the Russians want to build for this amount? Millions of adobe huts?

ziad
Guest
ziad

not millions,,billions,,how can you repeat the same mistake many times in your article?

Daeshbags Sux
Member
Master
Upvoted
Rookie Mentor
Commenter
Daeshbags Sux

News Desk strikes again… No surprise articles are so often biased when you mistake millions for billions… By the end of the conflict with is on the good way to last for 1-2 years, the bill won’t be under half a trillion dollars or more : a $600-750bln figure is likely to happen if areas under control of Turkish proxies and other roaches have to be retaken by force… It might even reach the trillion if ever Assad can’t reach a form of agreement with the Kurds and it ends in a civil war, not speaking about the fact that… Read more »