Syrian president announces launch of development fund for post-Assad reconstruction

ISTANBUL

Syria’s President Ahmad al-Sharaa launched Thursday the Syrian Development Fund, saying the institution will serve as a key tool for rebuilding the country.

The announcement came during the fund’s inauguration ceremony at Damascus Citadel in the Syrian capital, according to the Syrian Arab News Agency (SANA).

“We gather today to announce the launch of the Syrian Development Fund, through which we call on all to contribute to rebuilding what the fallen regime destroyed and to revive the scorched land into lush greenery,” Sharaa said in his address.

“The fallen regime destroyed our economy, looted our wealth, demolished our homes, and scattered our people in camps and places of refuge. We gather here today to heal the wounds of beloved Syria, rebuild it with the hands of its sons, and return the displaced and refugees to their land.”

Sharaa stressed that the fund will operate with the highest level of transparency.

“Every dollar spent will be publicly disclosed within strategic projects.”

Minutes after the fund’s launch, donations have surpassed $30 million, according to a SANA correspondent.

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 Sharaa was formed in January.