Riyadh, Doha to Pay Back Syria's Debt to World Bank
Saudi Arabia and Qatar said Sunday they will pay Syria's outstanding arrears of around $15 million to the World Bank.
A joint statement by the finance ministries of Saudi Arabia and Qatar said the decision to pay Syria's debt to the World Bank was made during this month's meetings in Washington by the World Bank and IMF.
Syria's Foreign Ministry thanked the two countries for paying the debt, saying it opens the way for activating cooperation toward recovery and reconstruction.
The joint Saudi-Qatari statement said the payment of Syria's loans will facilitate the resumption of World Bank support and activities in Syria that have been stalled for more than 14 years.
The statement added that the loan payment will allow Syria to take allotments from the World Bank in the near future for 'vital sectors.'
Both countries also called on "international and regional financial institutions to promptly resume and expand their development engagement in Syria."
In a reflection of Riyadh's continued support for Syria's stability and economic recovery, Saudi Finance Minister Mohammed AlJadaan has issued a joint statement with Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva, and Ajay Banga, President of the World Bank Group (WBG), saying 'priority will be given to efforts to meet the critical needs of the Syrian people, institutional rebuilding, capacity development, policy reforms, and the development of a national economic recovery strategy.'
The statement that was issued on Thursday on the sidelines of the 2025WBG/IMF Spring Meetings in Washington, said the three sides co-hosted a high-level roundtable for Syria, bringing together the Syrian authorities, finance ministers and key stakeholders from multilateral and regional financial institutions, as well as economic and development partners.
"Building on earlier discussions –including at the Paris Conference on Syria (February 13), the Al Ula roundtable on February 16, and Brussels IX conference (March 17)— this event provided a platform for the Syrian authorities to present their ongoing efforts to stabilize and rebuild their country, reduce poverty, and achieve long-term economic development,' said the statement.
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