Saudi Arabia says it will jointly fund Syria state salaries with Qatar

Yahoo

2 days ago

Saudi Arabia's Foreign Minister Prince Faisal bin Farhan Al Saud has said that the kingdom and Qatar will offer joint financial support to state employees in Syria.
His statements came on Saturday during a joint press conference with his Syrian counterpart Asaad al-Shibani in Damascus.
The two Gulf nations have been among the most important regional supporters of Syria's new authorities, who ousted longtime ruler Bashar al-Assad in December after nearly 14 years of war.
Saturday's statement did not provide details on the exact amount of the support for Syria's public sector. However, it comes after Syrian Finance Minister Mohammed Yosr Bernieh said earlier in May that Qatar was going to provide Syria with $29m per month for an initial three months to pay civilian public sector worker salaries.
The Reuters news agency had also reported that the United States had given its blessing to the Qatari initiative, which came a few days before President Donald Trump announced that sanctions on Syria imposed during the al-Assad regime would be lifted. The European Union has since also lifted sanctions on Syria.
Further evidence of Saudi Arabian and Qatari support came in mid-May, when it was announced that the two countries had paid off Syria's debt to the World Bank, a sum of roughly $15m.
Syria's new government, led by interim President Ahmed al-Sharaa, has sought to rebuild the country's diplomatic ties and convince wary Western states that he has turned his back on past ties with groups such as al-Qaeda.
The Syrian leader has repeatedly disavowed extremism and expressed support for minorities, but incidents of violence that has led to hundreds of deaths continue to cause international trepidation – even as the government and al-Sharaa denounce the killings.
Syria's new government has also made a concerted effort to solidify ties to Gulf Arab states who have begun to play a pivotal role in financing the reconstruction of Syria's war-ravaged infrastructure and reviving its economy.On Tuesday, the European Union announced it had adopted legal acts lifting all economic restrictive measures on Syria except those based on security grounds. It also removed 24 entities from the EU list of those subject to the freesing of funds and economic resources, including the Central Bank of Syria.
And after Saudi Arabia and Qatar cleared Syria's debt to the World Bank, the US-based financial institution said that it would restart operations in the country following a 14-year pause.
The World Bank has begun to prepare its first project in Syria, which will focus on improving electricity access – a key pillar for revitalising essential services like healthcare, education, and water supply. It also marked the start of expanded support to stabilise Syria and boost long-term growth.
Syria's gradual re-integration into the global economy is in large part due to Trump's dramatic shift in Washington's policies towards the country. After announcing the lifting of US sanctions on May 13, Trump also became the first US president in 25 years to meet with a Syrian counterpart.
The US had already removed a $10m reward for the capture of al-Sharaa, and the Syrian president has been able to travel internationally and meet world leaders, including in Saudi Arabia and France.
Still, there is a lot to be done. A February report by the United Nations Development Programme (UNDP) estimated that at current growth rates, Syria would need more than 50 years to return to the economic level it had before the war, and it called for massive investment to accelerate the process.
The UNDP study said nine out of 10 Syrians now live in poverty, one-quarter are jobless and Syria's gross domestic product 'has shrunk to less than half of its value' in 2011, the year the war began.