Saudi Arabia and Qatar have jointly agreed to repay Syria’s outstanding $15 million debt to the World Bank, a move expected to unlock international financial support for the war-torn nation’s recovery. This decision was announced during the World Bank and IMF spring meetings in Washington, marking Syria’s first participation in such forums in over two decades .
The repayment addresses Syria’s arrears, allowing the World Bank to resume operations in the country after a 14-year hiatus. This development is seen as a significant step towards rebuilding Syria’s critical infrastructure and public sectors, which have been devastated by over a decade of civil war .
Syria’s new leadership, formed after the fall of Bashar al-Assad’s regime in late 2024, has faced challenges in accessing international aid due to ongoing sanctions. However, recent easing of certain restrictions by the U.S., EU, and UK has facilitated this financial assistance .
The commitment from Saudi Arabia and Qatar is part of a broader regional effort to support Syria’s reconstruction, which is estimated to cost up to $400 billion. Qatar has already initiated energy support by supplying natural gas to alleviate Syria’s electricity shortages .
This financial support underscores a shift in regional dynamics and international cooperation aimed at stabilizing and rebuilding Syria, with the World Bank and IMF playing pivotal roles in facilitating the country’s economic recovery.
Saudi Arabia and Qatar Clear Syria’s $15 Million World Bank Debt, Paving Way for Reconstruction
Saudi Arabia and Qatar have jointly agreed to repay Syria’s outstanding $15 million debt to the World Bank, a move expected to unlock international financial support for the war-torn nation’s recovery. This decision was announced during the World Bank and IMF spring meetings in Washington, marking Syria’s first participation in such forums in over two decades .
The repayment addresses Syria’s arrears, allowing the World Bank to resume operations in the country after a 14-year hiatus. This development is seen as a significant step towards rebuilding Syria’s critical infrastructure and public sectors, which have been devastated by over a decade of civil war .
Syria’s new leadership, formed after the fall of Bashar al-Assad’s regime in late 2024, has faced challenges in accessing international aid due to ongoing sanctions. However, recent easing of certain restrictions by the U.S., EU, and UK has facilitated this financial assistance .
The commitment from Saudi Arabia and Qatar is part of a broader regional effort to support Syria’s reconstruction, which is estimated to cost up to $400 billion. Qatar has already initiated energy support by supplying natural gas to alleviate Syria’s electricity shortages .
This financial support underscores a shift in regional dynamics and international cooperation aimed at stabilizing and rebuilding Syria, with the World Bank and IMF playing pivotal roles in facilitating the country’s economic recovery.
Damascus Picture on Flickr by Omar Hafez
