Riyadh: Saudi Arabia and Qatar have committed to settling Syria’s outstanding arrears of approximately $15 million to the World Bank, according to a joint statement from both countries. This move is expected to clear the path for the approval of millions of dollars in grants aimed at Syria’s reconstruction efforts and to support the country’s struggling public sector.
International news agency Reuters first reported the news earlier this month. This step marks the first known instance of Saudi Arabia providing financial support to Syria since Islamist-led rebels ousted former leader Bashar al-Assad last year.
The settlement could also signal that crucial Gulf Arab support for Syria is finally materializing, following previous plans—such as Doha’s initiative to fund salaries—being delayed due to uncertainty surrounding U.S. sanctions.
“This commitment will pave the way for the World Bank Group to resume support and operations in Syria after a suspension of more than fourteen years,” Saudi Arabia and Qatar said in the statement.
“It will also unlock Syria’s access to financial support in the near term for the development of critical sectors.”
Also Read | Israel Strikes Hezbollah Missile Storage Site in Southern Beirut
In their statement, both countries also urged “international and regional financial institutions to promptly resume and expand their development engagement in Syria.”
Also Read | Balikatan 2025: US, Philippine Forces Target Drones in South China Sea Drills
Syria’s outstanding debt to the World Bank amounts to $15 million, which must be cleared before the international financial institution can approve grants or provide other forms of assistance to the country.
