Syria and Germany agreed Friday that Damascus could pay its debts for Berlin, estimated at 467 million deutsche marks, over 30 installments, reported the Kuwait News Agency (KUNA).
The deal, signed by Syrian planning minister, Essam al-Zaeem, and head of the international relations department of the German ministry of economy, states that the total Syrian debt would be re-paid by October 2005.
Seventy million marks of the total debts will be used as a swap, which means the money will be used in projects to protect environment, fighting unemployment and poverty, as well as educational ventures in Syria.
Zaeem said in a press release that the deal reflected Germany's interests in serving the social schemes of the Syrian government.
German chancellor Gerhard Schroeder, during his last October's visit to Syria, said his country's relations with Syria would witness a new beginning – Albawaba.com
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