Syria clinches USD 225 mn World Bank grant

World Bank ♥️ Syria

Syria secured a USD 225 mn grantfrom the World Bank to back public health programs and water infrastructure. USD 150 mn of the total will go towards rebuilding the severely damaged water infrastructure, the bank said, as about half of the water supply and 70% of wastewater management infrastructure was damaged during the country’s 14-year war. Meanwhile, public health is getting USD 75 mn dedicated to improving primary, maternal, and pediatric care at 150 locations across the country.

Not quite locked in: That rail financing package. Reports that the World Bank signed off on a separate USD 200 mn rail financing package are inaccurate, with the file still under discussion and no final agreement signed, Syria’s Transport Ministry said. State news agency Sana broke the news last week, citing the Transport Ministry in a report that has since been taken down.

Giant Saudi petchems complex gets a boost

Jubail gets a downstream boost: The Amiral petrochemical complex in Saudi Arabia’s Jubail is about to grow after the Investment Ministry and Satorp — an Aramco and TotalEnergies refining JV — signed an agreement to develop and expand downstream industries linked to the USD 11 bn project, the Energy Ministry said on X. The agreement focuses on scaling up chemicals and semi-finished products, improving production efficiency, reducing logistics costs, and making better use of domestic resources.

Why Amiral matters: Set to come online in 2027, Amiral is a part of Aramco’s liquids-to-chemicals push. Roughly half of its output will feed into advanced petrochemicals, while the rest is expected to be exported, helping widen Saudi Arabia’s non-oil trade base. Amiral is expected to unlock USD 4 bn of additional downstream investments in plants that will rely on Amiral feedstock to produce carbon fibers, lubricants, drilling fluids, detergents, food additives, automotive parts, and tires.