QNB, partners fund ‘Qasioun Journey’ project in Damascus
Tribune News Network Doha QNB Syria, a subsidiary of QNB Group, a leading financial institution in the Middle East and Africa, has launched a syndicated financing facility in colla...
QNB, a major financial institution in the Middle East and Africa, has teamed up with Al Baraka Bank Syria and the Commercial Bank of Syria to fund the final stage of the "Qasioun Journey" project in Damascus. This syndicated financing facility aims to bolster the capital-intensive endeavor, a key strategic and development project in Syria.
The collaboration between QNB Group and the two Syrian banks exemplifies a new model of public-private partnership. It underscores the vital role of banks in financing development initiatives, promoting sustainable economic growth, and advancing national priorities. QNB Group's Senior Executive Vice President, Khalid Ahmed Al Sada, emphasized that such collaborative financing structures foster financial expertise, risk diversification, and the banking sector's capacity to back strategic investments.
The "Qasioun Journey" project, supervised directly by the Damascus Governorate, aims to become a cultural landmark that showcases Damascus's identity, while simultaneously boosting tourism, development, and investment in the city. This financing initiative by QNB Syria further solidifies its commitment to supporting high-impact strategic and development projects, contributing to the completion of one of modern Syria's most notable tourism and social projects.
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