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Macron Visits Damascus, Signs Economic Agreements Following Deadly Blasts

The pacts aim to marshal foreign capital for a World Bank estimate of $216 billion in rebuilding, posing a direct test of investor confidence.

Overview

  • French President Emmanuel Macron made a high-profile visit to Damascus and met interim leader Ahmed al-Sharaa to sign multiple memorandums and create joint economic committees to coordinate reconstruction.
  • Two improvised devices exploded in central Damascus on Tuesday, killing one person and wounding dozens, with Syrian authorities reporting the devices were placed in a parked car and a rubbish bin.
  • Syrian officials have opened investigations and pointed to possible sabotage by former Assad-regime remnants, while analysts and UN estimates say ISIL remnants remain a plausible source of the attacks, leaving responsibility unresolved.
  • Security has been tightened across Damascus with reinstated checkpoints, armed patrols, exclusion zones and vehicle searches as authorities seek to reassure diplomats and investors.
  • Rebuilding needs are vast and costly, with the World Bank estimating about $216 billion in reconstruction and experts warning that persistent insecurity, legal gaps and governance problems could deter Gulf and Western investment and slow recovery for ordinary Syrians.