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Saudi Arabia, Pakistan Sign Financing Agreements on Oil Derivatives, Water Supply 

Officials are seen at the signing ceremony. (SPA)
Officials are seen at the signing ceremony. (SPA)
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Saudi Arabia, Pakistan Sign Financing Agreements on Oil Derivatives, Water Supply 

Officials are seen at the signing ceremony. (SPA)
Officials are seen at the signing ceremony. (SPA)

Saudi Fund for Development (SFD) Chief Executive Sultan Al-Marshad and Pakistani Secretary for Ministry of Economic Affairs Dr. Kazim Niaz signed in Islamabad a US$1.2 billion financing agreement for the import of oil derivatives.

Pakistani Prime Minister Muhammad Shehbaz Sharif and Saudi Ambassador to Pakistan Nawaf bin Said Al-Malki witnessed the signing of the agreement.

The funding is part of Saudi Arabia's ongoing support to Pakistan through the SFD, which has totaled around US$6.7 billion for oil derivatives since 2019.

The Kingdom's support is aimed at boosting Pakistan’s economy, addressing its economic challenges, and bolstering vital sectors, reported the Saudi Press Agency on Monday.

Additionally, both parties signed a development soft loan agreement worth US$41 million to finance a project that will supply drinking water to the Pakistani city of Mansehra.

The initiative will involve supplying about 400 kilometers of pipes for water networks, benefiting over 150,000 people. It also includes the establishment of a water treatment plant with a capacity of about 21,000 cubic meters per day, helping in reducing waterborne diseases and epidemics in Pakistan.

The two agreements reflect the SFD's commitment to addressing challenges in various countries and underscore the importance of international cooperation and solidarity for achieving sustainable development in beneficiary nations.

During the signing ceremony, the Pakistani prime minister and the SFD chief discussed ways to bolster cooperation between their countries, focusing on financing vital sectors across Pakistan.

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Qatar Will Send Natural Gas to Syria to Increase Its Meager Electricity Supply 

People break their fast during an event organized by a charity organization in Qaboun neighborhood of Damascus, Syria, 04 March 2025. (EPA)
People break their fast during an event organized by a charity organization in Qaboun neighborhood of Damascus, Syria, 04 March 2025. (EPA)
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Qatar Will Send Natural Gas to Syria to Increase Its Meager Electricity Supply 

People break their fast during an event organized by a charity organization in Qaboun neighborhood of Damascus, Syria, 04 March 2025. (EPA)
People break their fast during an event organized by a charity organization in Qaboun neighborhood of Damascus, Syria, 04 March 2025. (EPA)

Qatar will provide natural gas supplies to Syria with the aim of generating 400 megawatts of electricity a day, in a measure to help address the war-battered country’s severe electricity shortages, Syrian state-run news agency SANA reported Friday.

Syria’s interim Minister of Electricity Omar Shaqrouq said the Qatari supplies are expected to increase the daily state-provided electricity supply from two to four hours per day.

Under the deal, Qatar will send 2 million cubic meters of natural gas a day to the Deir Ali power station, south of Damascus, via a pipeline passing through Jordan.

Qatar’s state-run news agency said that the initiative was part of an agreement between the Qatar Fund for Development and the Ministry of Energy and Mineral Resources of Jordan in collaboration with the United Nations Development Program and “aims to address the country’s severe shortage in electricity production and enhance its infrastructure.”

Syria’s economy and infrastructure, including electricity production, has been devastated by nearly 14 years of civil war and crushing Western sanctions imposed on the government of former President Bashar al-Assad.

Those who can afford it rely on solar power and private generators to make up for the meager state power supply, while others remain most of the day without power.

Since Assad was ousted in a lightning opposition offensive in December, the country’s new rulers have struggled to consolidate control over territory that was divided into de facto mini-states during the war and to begin the process of reconstruction.

The United Nations in 2017 estimated that it would cost at least $250 billion to rebuild Syria, while experts say that number could reach at least $400 billion.

The United States remains circumspect about the interim government and current President Ahmad al-Sharaa, the former leader of the Hayat Tahrir al-Sham group. Washington designates HTS as a terrorist organization and has been reluctant to lift sanctions.

In January, however, the US eased some restrictions, issuing a six-month general license that authorizes certain transactions with the Syrian government, including some energy sales and incidental transactions.