Syrian President Ahmad Al Shara has launched the Syrian Development Fund, saying the institution will serve as a key tool for rebuilding the country.
The fund's inauguration ceremony took place at Damascus Citadel World Heritage Site on Thursday.
“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,” said Mr Al Shara in his address, state-run news agency Sana reported.
“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,” he added.
Mr Al Shara said that the fund would operate with the highest level of transparency.
“Every dollar spent will be publicly disclosed within strategic projects.”
About an hour after the fund’s launch, contributions had already reached around $60 million, according to Syrian state television.
President Al Shara donated $20 million on behalf of the Syrian people to the fund, a sum raised from the sale of several luxury vehicles that once belonged to the Assad family and were recovered by the state, according to Syrian media.
Mr Al Shara, formerly known by the nom de guerre Abu Mohammed Al Jawlani, emerged as Syria's interim President after leading Hayat Tahrir Al Sham rebels in toppling Bashar Al Assad’s regime in late 2024.
The country now stands at a critical juncture, grappling with the aftermath of more than a decade of civil war and facing immense challenges in rebuilding its infrastructure, economy and institutions.
