According to a statement published by the Saudi Press Agency, Saudi Arabia and Qatar announced on Sunday that they would settle Syria’s debt to the World Bank, summed up to $15 million.
Both Gulf states have played a key role in the diplomatic outreach to Syria’s new rulers since the ouster of longtime strongman Bashar al-Assad in December.
The ministries of finance in the Kingdom of Saudi Arabia and the State of Qatar jointly announce their commitment to settle Syria’s outstanding arrears to the World
Saudi Arabia and Qatar revealed on Sunday their plan to cover Syria’s overdue debt to the World Bank, amounting to approximately $15 million, as stated by the Saudi Press Agency.
The two Gulf nations have been instrumental in diplomatic efforts toward Syria’s new leadership following the removal of long-standing leader Bashar al-Assad in December.
A joint announcement by their finance ministries confirmed the commitment to clear Syria’s arrears, enabling the resumption of World Bank assistance after a 14-year halt due to the conflict. This move follows Syrian officials’ recent participation in IMF and World Bank meetings, their first in over two decades.
Syria’s infrastructure lies in ruins after 14 years of war, which erupted from the violent suppression of pro-democracy demonstrations. Assad’s departure during a swift rebel offensive in December prompted the new government to seek renewed international ties, including reengagement with financial institutions.
Resolving the debt unlocks immediate access to World Bank funding and expertise, critical for rebuilding key sectors. Syrian authorities anticipate significant financial support from affluent Gulf states to revive the economy and reconstruct the war-torn nation.
WHAT YOU SHOULD KNOW
For Syria, this marks a fragile hope for rebuilding—a nation seeking to emerge from decades of devastation through a blend of Gulf capital, international aid, and internal reform.
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