Logo of the World Bank Group. Photo: Reuters
The Kingdom of Saudi Arabia (KSA) and Qatar on Sunday, April 27, announced their commitment to settle Syria’s outstanding debts to the World Bank Group, totaling around USD 15 million.
This decision was revealed in a joint statement released by the Saudi Press Agency (SPA).
The statement highlighted that this move is part of the ongoing efforts by Saudi Arabia and Qatar to support and accelerate the recovery of Syria’s economy. The plan follows discussions held during the World Bank and International Monetary Fund’s spring meetings in Washington.
By settling the debt, the World Bank Group will be able to resume operations in Syria after more than 14 years of suspension.
This will enable Syria to access financial support for developing critical sectors and receive technical assistance aimed at rebuilding institutions, enhancing capacity, and implementing policy reforms to drive future development.
The statement also urged international and regional financial institutions to quickly resume and broaden their involvement in Syria. This will help improve the lives of Syrians, support their hopes for a better future, and contribute to regional stability and prosperity.
Syria’s USD 15 million debt must be cleared before the World Bank can approve grants and provide further assistance to the country.
This post was last modified on April 27, 2025 8:37 pm