Every announced Syrian deal and grant in the book’s transaction register, placed only as high as the document behind it allows. The empty rungs at the top are the finding.
40rows shown19verified at the document9above the provisional ceiling4top rungs emptyHighest rung reached: First disbursement
How far each one has climbed
The ladder has eleven rungs, from announcement at the bottom to an audited outcome at the top, and each needs a different document. Select a row to see its stage, its evidence and what may and may not be said of it.
Stage verified at the documentNot verified: held at or below the provisional ceilingAn aggregate that contains other rowsWhere a counterparty or the press described a row, above where the record puts it
Provisional ceilingBelow this line a stage may rest on reporting. Above it, a stage asserts an executed instrument, a regulator’s decision or a physical fact, and needs the document.
Evidence required: Disbursement record or authoritative confirmation
May be called: first disbursement made
Must not be read as: Call total investment delivered
TR-002 · Public administration
Syria Public Financial Management Capacity Strengthening Project
Stage verified
Counterparty
World Bank
Instrument
Grant
Stage
Financial close
Stage date
16 August 2026
Evidence
Primary: the document itself
Stated value
$20 m
On the record
$0 (0 per cent of stated)
Row as at
28 September 2026
Contained in
TR-004: World Bank Syria grant portfolio
At this stage
Financing documents are executed and conditions to initial funding are satisfied
Evidence required: Lender, sponsor or official close confirmation
May be called: financial close reached
Must not be read as: Infer disbursement or construction completion
TR-003 · Water and health
Syria Emergency Water Security and Resilient Services Project, P515199
Stage verified
Counterparty
World Bank
Instrument
Grant
Stage
Financial close
Stage date
16 August 2026
Evidence
Primary: the document itself
Stated value
$150 m
On the record
$0 (0 per cent of stated)
Row as at
28 September 2026
Contained in
TR-004: World Bank Syria grant portfolio
At this stage
Financing documents are executed and conditions to initial funding are satisfied
Evidence required: Lender, sponsor or official close confirmation
May be called: financial close reached
Must not be read as: Infer disbursement or construction completion
TR-003a · Health
Syria Health System Recovery and Strengthening Project, P513704
Stage verified
Counterparty
World Bank, IDA
Instrument
Grant
Stage
Financial close
Stage date
2 September 2026
Evidence
Primary: the document itself
Stated value
$75 m
On the record
$0 (0 per cent of stated)
Row as at
28 September 2026
Contained in
TR-004: World Bank Syria grant portfolio
At this stage
Financing documents are executed and conditions to initial funding are satisfied
Evidence required: Lender, sponsor or official close confirmation
May be called: financial close reached
Must not be read as: Infer disbursement or construction completion
TR-004 · Multiple
World Bank Syria grant portfolio
Stage not verified
Counterparty
World Bank
Instrument
Grant portfolio
Stage
Announcement
Stage date
2026
Evidence
Secondary: reporting about it
Stated value
$1 bn
On the record
No published figure
Row as at
10 August 2026
Contains
TR-001, TR-002, TR-003, TR-003a, TR-027
At this stage
A public intention or headline project has been stated
Evidence required: Dated official or attributable announcement
May be called: announced; proposed
Must not be read as: Call signed, funded or active
TR-005 · Water adaptation
GCF SAP072 WATER-RES
Stage verified
Counterparty
Green Climate Fund, accredited entity ACTED
Instrument
Grant
Stage
First disbursement
Stage date
14 October 2026
Evidence
Primary: the document itself
Stated value
$25 m
On the record
$6 m (24 per cent of stated)
Row as at
18 October 2026
At this stage
Funds have moved under the financing agreement
Evidence required: Disbursement record or authoritative confirmation
May be called: first disbursement made
Must not be read as: Call total investment delivered
TR-006 · Readiness
GCF readiness support to Syria
Stage not verified
Counterparty
Green Climate Fund
Instrument
Grant
Stage
Announcement
Stage date
2026
Evidence
Secondary: reporting about it
Stated value
$1.9 m
On the record
No published figure
Row as at
10 August 2026
At this stage
A public intention or headline project has been stated
Evidence required: Dated official or attributable announcement
May be called: announced; proposed
Must not be read as: Call signed, funded or active
TR-007 · Energy
Stabilization of Power Supply in Conflict Affected Areas, Jandar Power Plant
Stage verified
Counterparty
Japan and UNDP
Instrument
Grant
Stage
Financier approval
Stage date
10 February 2026
Evidence
Primary: the document itself
Stated value
$12.4 m
On the record
$790,838 (6.4 per cent of stated)
Row as at
18 October 2026
At this stage
A financing body has approved funding for the activity
Evidence required: Board decision, approved funding proposal or equivalent institutional record
May be called: approved by the board on <date>; funding approved
Must not be read as: Call disbursed, signed with the recipient, or under implementation
TR-008 · Energy
Deir Ali Extension II rehabilitation
Stage verified
Counterparty
Italy, Norway and UNDP
Instrument
Grant
Stage
Financier approval
Stage date
11 February 2026
Evidence
Primary: the document itself
Stated value
$10.7 m
On the record
$794,809 (7.4 per cent of stated)
Row as at
18 October 2026
At this stage
A financing body has approved funding for the activity
Evidence required: Board decision, approved funding proposal or equivalent institutional record
May be called: approved by the board on <date>; funding approved
Must not be read as: Call disbursed, signed with the recipient, or under implementation
TR-009 · Sovereign obligations
IDA arrears clearance
Stage verified
Counterparty
Saudi Arabia and Qatar
Instrument
Third-party payment to a creditor
Stage
Permission or eligibility
Stage date
16 May 2025
Evidence
Primary: the document itself
Stated value
$15.5 m
On the record
Not a flow
Row as at
25 August 2026
At this stage
A legal, mandate or eligibility restriction has been lifted, or an accreditation granted. This is not a transaction and sits outside the ladder
Evidence required: The instrument effecting the change, with its date
May be called: permitted; eligible; exclusion lifted; accredited
Must not be read as: Treat as allocation, purchase, commitment or investment
TR-010 · Shelter and returns
Syria Without Camps grant
Stage not verified
Counterparty
Saudi Arabia
Instrument
Grant
Stage
Announcement
Stage date
2026
Evidence
Secondary: reporting about it
Stated value
$1.5 bn
On the record
No published figure
Row as at
10 August 2026
At this stage
A public intention or headline project has been stated
Evidence required: Dated official or attributable announcement
May be called: announced; proposed
Must not be read as: Call signed, funded or active
TR-011 · Energy
Eight power plants, 5,000 MW
Stage verified
Counterparty
UCC Holding with Kalyon GES, Cengiz Enerji and Power International USA
Instrument
Concession and contracts
Stage
Signed agreement
Stage date
6 November 2025
Evidence
Primary: the document itself
Stated value
$7 bn
On the record
No published figure
Row as at
22 August 2026
At this stage
A legally binding contract or concession has been executed
Evidence required: Executed contract or authoritative confirmation with material terms
May be called: signed contract; executed concession
Must not be read as: Call financially closed or under construction
TR-012 · Transport
Damascus International Airport
Stage not verified
Counterparty
UCC Holding with Turkish firms
Instrument
Contract
Stage
Memorandum
Stage date
2025
Evidence
Secondary: reporting about it
Stated value
$4 bn
On the record
No published figure
Row as at
10 August 2026
Described higher than the record
UCC Holding, the counterparty, 24 November 2025: Signed agreement.
The chapter: The counterparty published on 24 November 2025 that the General Authority of Civil Aviation had signed the final concession contracts.
And: That is a report that an instrument was signed and not the instrument, so nothing here moves the transaction's recorded stage.
At this stage
Parties have signed a non-final memorandum or expression of intent
Evidence required: Document or attributable statement identifying parties and scope
May be called: memorandum signed; non-binding if confirmed
Must not be read as: Call contract or investment delivered
TR-013 · Ports
Latakia container terminal, 30 years
Stage verified
Counterparty
CMA CGM
Instrument
Concession
Stage
Framework agreement
Stage date
1 May 2025
Evidence
Primary: the document itself
Stated value
€230 m
On the record
No published figure
Row as at
25 August 2026
Described higher than the record
CMA CGM's release of 20 August 2025, 20 August 2025: Operation.
The chapter: the operator's release of 20 August 2025 states it will continue to manage and redevelop the terminal.
And: Two of these rows carry a stage this book has decided not to correct.
At this stage
Parties have agreed a framework with later documents or conditions required
Evidence required: Executed framework text or reliable primary description
May be called: framework agreement signed
Must not be read as: Infer project finance or construction
TR-014 · Ports
Tartus port, 30 years
Stage verified
Counterparty
DP World
Instrument
Concession
Stage
Memorandum
Stage date
13 July 2025
Evidence
Primary: the document itself
Stated value
$800 m
On the record
No published figure
Row as at
25 August 2026
Described higher than the record
DP World's own releases, 12 November 2025: Operation.
The chapter: operations commenced on 12 November 2025 following a formal handover.
And: Two of these rows carry a stage this book has decided not to correct.
At this stage
Parties have signed a non-final memorandum or expression of intent
Evidence required: Document or attributable statement identifying parties and scope
May be called: memorandum signed; non-binding if confirmed
Must not be read as: Call contract or investment delivered
TR-015 · Oil and gas
Homs gas fields
Stage not verified
Counterparty
ADES Holding
Instrument
Implementation agreement
Stage
Framework agreement
Stage date
July 2026
Evidence
Secondary: reporting about it
Stated value
Not stated
On the record
No published figure
Row as at
10 August 2026
At this stage
Parties have agreed a framework with later documents or conditions required
Evidence required: Executed framework text or reliable primary description
May be called: framework agreement signed
Must not be read as: Infer project finance or construction
TR-016 · Oil and gas
Onshore gas, 56/44 split
Stage not verified
Counterparty
ConocoPhillips and Novaterra
Instrument
Binding contract
Stage
Framework agreement
Stage date
17 June 2026
Evidence
Secondary: reporting about it
Stated value
Not stated
On the record
No published figure
Row as at
10 August 2026
At this stage
Parties have agreed a framework with later documents or conditions required
Evidence required: Executed framework text or reliable primary description
May be called: framework agreement signed
Must not be read as: Infer project finance or construction
TR-017 · Oil and gas
Block 26, Hasakah
Stage verified
Counterparty
Dijla Petroleum Company, the joint operating company of Gulfsands Petroleum, Sinochem and the Syrian Petroleum Company
Instrument
Production sharing contract
Stage
Signed agreement
Stage date
23 April 2026
Evidence
Primary: the document itself
Stated value
Not stated
On the record
Not a flow
Row as at
24 September 2026
At this stage
A legally binding contract or concession has been executed
Evidence required: Executed contract or authoritative confirmation with material terms
May be called: signed contract; executed concession
Must not be read as: Call financially closed or under construction
TR-018 · Banking
Shahba Bank, 48.68 per cent (49 per cent in the April agreement)
Stage verified
Counterparty
Masaref Holding, a subsidiary of Estithmar Capital, itself a subsidiary of Estithmar Holding QPSC, listed on the Qatar Stock Exchange
Instrument
Equity acquisition
Stage
Financial close
Stage date
17 September 2026
Evidence
Primary: the document itself
Stated value
Not stated
On the record
No published figure
Row as at
21 September 2026
Described before the record reached it
AGBI, 6 May 2026: Financial close.
The chapter: on 6 May it was also a claim about a completed acquisition more than four months before the buyer's listed parent and the bank reported one.
And: which my register records at completion on those confirmations and at nothing above it.
At this stage
Financing documents are executed and conditions to initial funding are satisfied
Evidence required: Lender, sponsor or official close confirmation
May be called: financial close reached
Must not be read as: Infer disbursement or construction completion
TR-019 · Sovereign debt
Norway government bond exclusion lifted
Stage verified
Counterparty
Norwegian Ministry of Finance
Instrument
Eligibility change
Stage
Permission or eligibility
Stage date
28 January 2026
Evidence
Primary: the document itself
Stated value
0 NOK
On the record
Not a flow
Row as at
9 August 2026
At this stage
A legal, mandate or eligibility restriction has been lifted, or an accreditation granted. This is not a transaction and sits outside the ladder
Evidence required: The instrument effecting the change, with its date
May be called: permitted; eligible; exclusion lifted; accredited
Must not be read as: Treat as allocation, purchase, commitment or investment
TR-020 · Sovereign debt
First sovereign sukuk
Stage not verified
Counterparty
Syrian Ministry of Finance
Instrument
Sukuk
Stage
Announcement
Stage date
13 July 2026
Evidence
Mixed: part document, part reporting
Stated value
Not stated
On the record
0 UNKNOWN
Row as at
10 August 2026
At this stage
A public intention or headline project has been stated
Evidence required: Dated official or attributable announcement
May be called: announced; proposed
Must not be read as: Call signed, funded or active
A financing body has approved funding for the activity
Evidence required: Board decision, approved funding proposal or equivalent institutional record
May be called: approved by the board on <date>; funding approved
Must not be read as: Call disbursed, signed with the recipient, or under implementation
TR-028 · Energy
Solar and wind development, up to 500 MW
Stage not verified
Counterparty
Al-Harfi and Sakalko, Saudi Arabia, with the Public Establishment for Transmission and Distribution of Electricity
Instrument
Memorandum of understanding
Stage
Memorandum
Stage date
October 2025
Evidence
Secondary: reporting about it
Stated value
Not stated
On the record
$0
Row as at
22 August 2026
At this stage
Parties have signed a non-final memorandum or expression of intent
Evidence required: Document or attributable statement identifying parties and scope
May be called: memorandum signed; non-binding if confirmed
Must not be read as: Call contract or investment delivered
TR-029 · Energy
Power purchase agreement, 100 MW solar
Stage not verified
Counterparty
Syrian-Turkish Energy Company, with the Public Establishment for Transmission and Distribution of Electricity
Instrument
Power purchase agreement
Stage
Framework agreement
Stage date
October 2025
Evidence
Secondary: reporting about it
Stated value
Not stated
On the record
$0
Row as at
23 August 2026
At this stage
Parties have agreed a framework with later documents or conditions required
Evidence required: Executed framework text or reliable primary description
May be called: framework agreement signed
Must not be read as: Infer project finance or construction
TR-030 · Energy
Two solar plants, 200 MW with storage on one
Stage not verified
Counterparty
20 Solar Energy LLC, United States, with the Public Establishment for Transmission and Distribution of Electricity
Instrument
Memorandum of understanding
Stage
Memorandum
Stage date
June 2025
Evidence
Secondary: reporting about it
Stated value
Not stated
On the record
$0
Row as at
22 August 2026
At this stage
Parties have signed a non-final memorandum or expression of intent
Evidence required: Document or attributable statement identifying parties and scope
May be called: memorandum signed; non-binding if confirmed
Must not be read as: Call contract or investment delivered
TR-031 · Energy
Gas supply through the Arab Gas Pipeline for 400 MW at Deir Ali
Stage not verified
Counterparty
Qatar Fund for Development with the Ministry of Energy and Mineral Resources of Jordan, UNDP facilitating
Instrument
Grant-funded supply arrangement
Stage
Reversed, expired or cancelled
Stage date
13 March 2025
Evidence
Mixed: part document, part reporting
Stated value
$63.75 m
On the record
No published figure
Row as at
22 August 2026
At this stage
The instrument has been terminated, has expired, has been cancelled or has been withdrawn
Evidence required: Termination, expiry date, cancellation notice or authoritative report of withdrawal
May be called: expired on <date>; cancelled; withdrawn
Must not be read as: Carry the transaction at its highest previously recorded stage
TR-032 · Energy
Intergovernmental energy cooperation memorandum
Stage not verified
Counterparty
Ministry of Energy of the Syrian Arab Republic with the Ministry of Energy of the Kingdom of Saudi Arabia
Instrument
Memorandum of understanding
Stage
Memorandum
Stage date
July 2025
Evidence
Secondary: reporting about it
Stated value
Not stated
On the record
Not a flow
Row as at
22 August 2026
At this stage
Parties have signed a non-final memorandum or expression of intent
Evidence required: Document or attributable statement identifying parties and scope
May be called: memorandum signed; non-binding if confirmed
Must not be read as: Call contract or investment delivered
TR-033 · Energy
Crude oil supply grant, 1.65 million barrels
Stage verified
Counterparty
Saudi Arabia through the Saudi Fund for Development, with the Syrian Ministry of Energy
Instrument
In-kind commodity grant under a memorandum of understanding
Stage
Memorandum
Stage date
11 September 2025
Evidence
Primary: the document itself
Stated value
Not stated
On the record
No published figure
Row as at
25 August 2026
At this stage
Parties have signed a non-final memorandum or expression of intent
Evidence required: Document or attributable statement identifying parties and scope
May be called: memorandum signed; non-binding if confirmed
Must not be read as: Call contract or investment delivered
TR-034 · Public administration
Joint budget support for public sector salaries through UNDP
Stage verified
Counterparty
Qatar Fund for Development and the Saudi Fund for Development, with UNDP as channel
Instrument
Budgetary support grant channelled through a multilateral
Stage
First disbursement
Stage date
7 September 2026
Evidence
Primary: the document itself
Stated value
$89 m
On the record
$84.15 m (94.5 per cent of stated)
Row as at
18 October 2026
At this stage
Funds have moved under the financing agreement
Evidence required: Disbursement record or authoritative confirmation
May be called: first disbursement made
Must not be read as: Call total investment delivered
TR-035 · Oil and gas
Kirkuk to Baniyas crude pipeline rehabilitation: two memoranda of understanding (Syria with Iraq; Syria with a Chevron-led consortium)
Stage not verified
Counterparty
Basra Oil Company (Iraq) with the Syrian Petroleum Company; and a consortium of Chevron, UCC Holding and TI Capital with the Syrian Petroleum Company
Instrument
Memoranda of understanding (rehabilitation and revival of the line; technical and financial studies and an implementation framework)
Stage
Memorandum
Stage date
17 July 2026
Evidence
Secondary: reporting about it
Stated value
Not stated
On the record
Not a flow
Row as at
20 September 2026
At this stage
Parties have signed a non-final memorandum or expression of intent
Evidence required: Document or attributable statement identifying parties and scope
May be called: memorandum signed; non-binding if confirmed
Must not be read as: Call contract or investment delivered
TR-040 · Energy
Three power purchase agreements, 760 MW solar with 1,077 MWh battery storage, Wadiyan al-Rabi, rural Damascus
Stage not verified
Counterparty
Mohammed Ahmed Al-Harfi Company (شركة محمد أحمد الحرفي), Saudi Arabia, with the Syrian Electricity Company (الشركة السورية للكهرباء)
Instrument
Power purchase agreement, as the Saudi Press Agency reports it (three agreements)
Stage
Announcement
Stage date
5 August 2026
Evidence
Secondary: reporting about it
Stated value
Not stated
On the record
$0
Row as at
28 September 2026
At this stage
A public intention or headline project has been stated
Evidence required: Dated official or attributable announcement
May be called: announced; proposed
Must not be read as: Call signed, funded or active
TR-041 · Energy
Solar project, 210 MW with 827 MWh battery storage, rural Damascus
Stage not verified
Counterparty
Mohammed Ahmed Al-Harfi Contracting Company (شركة محمد أحمد الحرفي السعودية للمقاولات), Saudi Arabia, with the Public Establishment for Transmission and Distribution of Electricity
Instrument
Memorandum of understanding
Stage
Memorandum
Stage date
16 February 2026
Evidence
Secondary: reporting about it
Stated value
Not stated
On the record
$0
Row as at
28 September 2026
At this stage
Parties have signed a non-final memorandum or expression of intent
Evidence required: Document or attributable statement identifying parties and scope
May be called: memorandum signed; non-binding if confirmed
Must not be read as: Call contract or investment delivered
TR-042 · Energy
Solar project, 210 MW, with an Emirati company
Stage not verified
Counterparty
كيوبيرد (an Emirati company, named in Arabic only by the Ministry of Energy; Latin spelling not established); the Syrian party is not stated
Instrument
Not stated
Stage
Announcement
Stage date
9 August 2026
Evidence
Secondary: reporting about it
Stated value
Not stated
On the record
$0
Row as at
28 September 2026
At this stage
A public intention or headline project has been stated
Evidence required: Dated official or attributable announcement
May be called: announced; proposed
Must not be read as: Call signed, funded or active
TR-043 · Energy
Solar project, 210 MW, with Zhonghe Investment
Stage not verified
Counterparty
ZHONGHE INVESTMENT (as the ministry prints it), China; the Syrian party is not stated
Instrument
Not stated
Stage
Announcement
Stage date
9 August 2026
Evidence
Secondary: reporting about it
Stated value
Not stated
On the record
$0
Row as at
28 September 2026
At this stage
A public intention or headline project has been stated
Evidence required: Dated official or attributable announcement
May be called: announced; proposed
Must not be read as: Call signed, funded or active
Described higher than the record
Where a chapter sets how a deal was described against where the record puts it. The record moves on a document; a description, however consistent, does not move it.
Each bar is that row’s own stated value. The filled part is what the financier’s or implementer’s own published figure shows as disbursed or spent; hatching means no such figure is on the record. Rows are never added together: several contain one another, and announced values are not flows. Aggregates, permissions and rows with no stated value are left out.
The register covers the transactions the book uses; it is not a census of every Syrian announcement. Each row’s evidence notes, the documents behind its stage and the cautions on its values are held in the transaction register and are not reproduced here. Most recent row date: 18 October 2026. This page shows the live register; the deposited snapshot does not include it.