Saudi Arabia has officially launched the 'Elaf' investment fund to support significant projects in Syria, marking a pivotal collaboration between the two nations. The announcement was made during a strategic contracts signing ceremony held at the People's Palace in Damascus, where various sectors, including aviation, communications, infrastructure, and real estate, were addressed. Saudi Investment Minister Khalid Al-Falih emphasized the importance of this initiative as part of a broader vision for reconstructing Syria's economy and supporting its development.

Moreover, the launch of the 'Elaf' fund coincided with the signing of the 'Silk Link' project agreement, which is expected to be one of the largest digital infrastructure endeavors in Syria and potentially worldwide. The agreements signed also included a substantial global water supply agreement between the two countries, facilitated by the Saudi company 'Aqua'. Al-Falih confirmed that with the lifting of economic sanctions, banking transfer channels between Syria and Saudi Arabia have been activated, paving the way for further economic collaboration and investment.

This endeavor reflects a significant shift in Saudi-Syrian relations, showcasing a mutual commitment towards reconstruction and development. As both countries navigate post-conflict realities, the 'Elaf' fund could play a crucial role in stabilizing and rejuvenating the Syrian economy, ultimately benefiting regional stability and cooperation. The meetings in Damascus highlight a shared vision for a future built on partnerships and comprehensive development strategies, seeking to transform Syria into a hub for investment and growth in the region.