28-04-2025
Saudi Arabia, Qatar Clear Syria's $15mn World Bank Debt
Saudi Arabia and Qatar have settled Syria's outstanding arrears to the World Bank Group, amounting to approximately $15 million, officials confirmed Sunday.
The payment comes as part of broader efforts to revitalise the Syrian economy and follows discussions during the Syria Roundtable, held alongside the 2025 Spring Meetings of the World Bank and the International Monetary Fund.
This financial intervention will allow the World Bank to resume operations in Syria after a 14-year suspension of activities, marking a significant shift in Syria's international financial relations.
Syria's World Bank suspension ends as Saudi Arabia, Qatar pay outstanding arrears
'The payment will allow the World Bank to resume its support and activities in Syria after a 14-year hiatus. It will also enable Syria to receive new allocations to support urgent sectors, alongside technical assistance aimed at rebuilding institutions, strengthening capacity, and supporting policy development and reform to drive economic growth,' the Saudi Gazette reported.
Both Gulf nations have called on international and regional financial institutions to 'quickly resume and expand development activities in Syria' and to 'unite efforts in supporting the Syrian people's aspirations for a stable and prosperous future,' the report said.
The representatives emphasised that these efforts would contribute to regional stability and prosperity.
Also read: Dubai's Arabian Travel Market (ATM) 2025 Begins on Monday
Source Arabian Business
