SNC says $60 bn needed in Syria after Assad regime falls

Lynne Nahhas | AFP ARABNEWS

Wednesday 21 November 2012

DUBAI: The Syrian opposition will need $60 billion in Marshall Plan-style aid to prevent the country’s collapse within six months of a fall of the regime, prominent leader George Sabra told reporters on Wednesday.

He urged a “Partnership to Invest in Future Syria” meeting held in Dubai to immediately launch a Marshall Plan for the Arab country, along the lines of the huge post-World War II recovery program for Europe.

Over the “first six months we need 60 billion dollars” as immediate funding for reconstruction, Sabra told reporters on the sidelines of the meeting.

Sabra said the money must come in the form of aid from “our Arab brothers and the international community on whom we count to fulfill their responsibilities toward the humanitarian crisis our country is facing.”

Funding is needed to “resolve the most sensitive and outstanding issues,” starting with “securing housing for people after 2.5 million homes have been destroyed” in the conflict, said Sabra, head of the Syrian National Council.

“What can be described as an economic ‘Marshall Plan for Syria’ cannot be delayed until the current regime fully collapses. It must be initiated immediately,” he told the meeting.

read more here on ARABNEWS

Categories: Arab World, Asia, Economics, Syria

4 replies

  1. Before this conflict Syria was one of the few countries without foreign loans and with a healthy balance of foreign exchange holdings. How wonderfully the ‘freedom fighters’ were able to destroy the country (ok, with the help of the army). And now the new regime wants to join the beggars of the world … (sorry, just my personal opinion).

  2. I do not think so Syria has had promising economy even before war. Its resources were depleting, its manpower is mainly outsources..etc

    • Well, Syria’s economy was quite self-sufficient. They produce(d) sufficient food for the country. They produce(d) textile and other products. And, yes, I am told they had a good foreign exchange reserve. That was depleted by about 2 billion $ (only) since the conflict started, but they still have a good amount. (Cannot quite recall the figure, shall revert, may be around 10 billion $). I spoke to one Jordanian, who was until recently working in Syria. He said that he was paid about 3 times of what he earned in Jordan. (IT expert). But of course mine is just one view. You may have different sources of information (which may also be correct).

  3. Only oil nations in middle east have so-called sustainable economical growth with exception of Israel and Syria never and ever was an Oil nation. Probably Syria main source of income has been the remittance sent from gulf states.

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