Doha: The QNB Group through QNB Syria, in collaboration with Al Baraka Bank Syria and the Commercial Bank of Syria, and under the sponsorship of the Syrian Ministry of Finance, announced the launch of a joint banking financing for the final phase of the "Qasioun Journey" project in Damascus Governorate.
This step comes within the framework of a banking and governmental partnership aimed at supporting developmental and strategic projects that have economic and social impact, and at enhancing the role of the banking sector in financing major investments and contributing to supporting developmental pathways in Syria.
The deal represents a model of integration between the public and private banking sectors, by unifying the financing capabilities and expertise of the participating banks, thereby providing a more flexible financing mechanism for major projects and enhancing the banking sector's ability to support investments with significant capital requirements.
In this context, Mr. Khalid Ahmed Al-Sada, First Executive Vice President, Corporate and Institutional Banking at QNB Group, said: "This deal underscores the growing role of syndicated financing in enabling the execution of complex projects with significant capital requirements. At QNB Group, we see that syndicated financing structures represent an effective mechanism that combines diverse financial expertise, contributes to risk distribution, and enhances the banking sector's capacity to support strategic investments."
He added that this facility serves as an example of how coordinated banking partnerships contribute to advancing economic development on a broader scale, while also strengthening a more dynamic and resilient financial system.
The financing comes within the framework of QNB Syria and the participating banks’ commitment to supporting developmental and strategic projects with economic and social impact, contributing to the completion of the "Qasioun Journey" project, which is being implemented under the direct supervision of the Damascus Governorate, to become a cultural and tourist landmark that reflects the identity of the capital and supports development and investment pathways.
