The European In vestment Bank, the EU’s long term financing institution, is lending 115 million euros to the Syrian Arab Republic to finance upgrading of the Syrian electricity distribution system. The loan follows last year’s resolution of some long-standing debt issues between Syria and EU member states and signals the EIB’s intention to resume normal service in supporting Syrian economic development. This is the second such loan in recent times – a 75 million euros loan for the same work was approved in December.
The 349 million euros project includes the construction of 41 substations (66/20 kV) as well as the overhead power lines and underground cables (66 kV and 20 kV) needed to strengthen and to interconnect with the existing network.
