The Kingdom of Saudi Arabia (KSA)is planning to settle Syria’s outstanding debt to the World Bank—estimated at approximately 15 million USD—as part of efforts to support the war-torn nation following years of unrest since 2011.
According to three sources cited by Reuters on Monday, April 14, the initiative is expected to unlock millions in international grants for reconstruction and provide much-needed support to Syria’s struggling public sector.
This financial gesture, which has not yet been officially announced, would mark Saudi Arabia’s first direct economic initiative for Syria since the ousting of Bashar al-Assad’s regime in December 2024.
A spokesperson for the Saudi Ministry of Finance declined to confirm the move, telling Reuters, “We do not comment on speculation but make announcements if and when they become official.”
Neither the Saudi government’s media office, the World Bank, nor Syrian officials responded immediately to requests for comment.
This move signals the beginning of tangible Gulf support for Syria, following the collapse of earlier efforts—including a Qatari proposal to fund public sector salaries, which was halted due to US sanctions on the former Syrian administration.
In March, Qatar announced a plan to supply Syria with gas via Jordan to improve its electricity supply—a move reportedly approved by the US.
The news follows a meeting between a World Bank delegation and Syrian finance minister Mohammad Yaser Barniyeh on Monday—the first such engagement since the change in Syria’s leadership.
In a related development, sources revealed that Damascus will send a high-level delegation to Washington later this month to attend the annual spring meetings of the World Bank and the International Monetary Fund. It will mark the first official US visit by Syria’s new leadership.
Two sources noted that Syria previously tried to clear its debts using frozen overseas assets, but the plan was shelved due to a severe foreign currency shortage.
Notably, Saudi Arabia was the first country visited by interim Syrian president Ahmed al-Sharaa after taking office in January. During his February trip to Riyadh, he met with Crown Prince Mohammed bin Salman, who reiterated the kingdom’s commitment to Syria’s security and stability.
