# Saudi Arabia and Syria sign defence pact and $403 million in loans in Riyadh

Source: Searchable (https://searchable.pk/news/world/saudi-arabia-and-syria-sign-defence-pact-and-dollar403-million-in-loans-in)
Type: News article
Author: Searchable Editorial
Published: 5 Nov 2026
Updated: 5 Nov 2026
Retrieved: 5 Nov 2026

> Syria's president met Crown Prince Mohammed bin Salman for the second time in a month. The loans, about Rs 111 billion, go to hospitals, housing, power and water.

**Saudi Arabia and Syria signed a defence cooperation agreement and more than $403 million in Saudi loans** on Wednesday 4 November, as Syrian President **Ahmed al-Sharaa** made his second visit to Riyadh in less than a month, Al Jazeera [reported](https://www.aljazeera.com/news/2026/11/5/syria-saudi-arabia-sign-defence-cooperation-deal-agree-403m-in-loans). Crown Prince **Mohammed bin Salman** oversaw the signings with him.

At today's rate of about Rs 276.70 to the dollar, the loans are worth roughly **Rs 111.5 billion** (see the [dollar rate page](/data/usd-pkr)).

## Where the money goes

The **Saudi Fund for Development** agreed six loans with Syria's finance ministry on concessional terms, the Saudi Press Agency said. Five of them were itemised:

| Purpose | Amount |
|---|---|
| Rebuilding and equipping damaged health facilities | $100 million |
| Strengthening civil defence | $105 million |
| Rehabilitating the Aleppo thermal power plant | $90 million |
| Repairing damaged housing | $60 million |
| Drinking water systems in Damascus and Idlib | $30 million |

The two sides also signed memorandums on industry, agriculture and environmental protection.

## The defence deal

Syria's foreign ministry called the agreement between the two defence ministries the "most notable" of the deals but did not publish its terms. Syrian Foreign Minister Asaad al-Shaibani said at the Manama Dialogue in Bahrain on Saturday that talks were under way on Syria joining what he called the **Mecca alliance**. Pakistan is already part of that Saudi-led defence pact, which [we wrote about in September](/news/world/turkey-offers-to-meet-saudi-defence-needs-the-mecca-pact-pakistan-signed-is-bein).

The pact comes as Saudi Arabia fights a renewed war with Yemen's Houthis, who have attacked Saudi airports and oil facilities, and has sought defensive and offensive help from the US, Europe and the region.

In their talks, the two leaders called for de-escalation and an "immediate cessation" of attacks on shipping in the **Red Sea, the Bab al-Mandeb strait and the Strait of Hormuz**.

## Why it matters here

Shipping through Hormuz and the Red Sea carries most of the oil and LNG Pakistan imports, and any easing there feeds through to freight costs and fuel prices. Saudi Arabia is also Pakistan's biggest source of remittances and a key lender: Riyadh rolled over its **$3 billion deposit** with the State Bank again this week. Track petrol on our [petrol price page](/data/petrol-price).

Saudi Arabia has backed Syria's government since al-Sharaa came to power after Bashar al-Assad was overthrown in December 2024. The two leaders last met in Riyadh on 6 October, when they discussed rebuilding Syria's infrastructure.

## Frequently asked questions

**How much has Saudi Arabia lent Syria?**

More than $403 million under six agreements signed on 4 November 2026 through the Saudi Fund for Development, on concessional terms. At Rs 276.70 to the dollar that is about Rs 111.5 billion.

## Sources

- Syria, Saudi Arabia sign defence cooperation deal, agree $403m in loans (5 Nov 2026) (Al Jazeera): https://www.aljazeera.com/news/2026/11/5/syria-saudi-arabia-sign-defence-cooperation-deal-agree-403m-in-loans

How to cite: "Saudi Arabia and Syria sign defence pact and $403 million in loans in Riyadh", Searchable, 5 Nov 2026, https://searchable.pk/news/world/saudi-arabia-and-syria-sign-defence-pact-and-dollar403-million-in-loans-in