Saudi Arabia has agreed to lend Syria 220 million dollars (about GBP100 million storing) over a three year period.
GV INTERIOR Syrian and Saudi Ministers seated
SCU Syrian and Saudi Finance Ministers signing agreement
SV Officials look on
SCU Ministers shaking hands
SV INTERIOR President Assad seated with Saudi Minister during talks (4 shots)
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Background: Saudi Arabia has agreed to lend Syria 220 million dollars (about GBP100 million storing) over a three year period.
Under an agreement signed on Thursday (10 April), Saudi Arabia will finance the building of a smelting plant and factories producing fertilizer and steel pipes.
The document was signed between the Saudi Arabian Minister of State for Finance and National Economy, Sheikh Mohammed Ali Aba Al-Khail, and the Syrian Finance Minister Mohammed Al-Sherif.
The loan was agreed during a visit to Syria by the late King Faisal in mid-January. Syria will begin to repay the interest-free money over three years beginning in 1983.
Later, the Saudi Arabian delegation met President Hafez Al-Assad in the Presidential Palace for talks on financial and economic co-operation.