Riyadh: Saudi Arabia and Qatar have announced a collaborative effort to pay approximately $15 million to clear Syria's arrears to the World Bank. This financial commitment is part of a broader strategy to assist in the recovery of Syria's economy.
According to Emirates News Agency, the joint statement by Saudi Arabia and Qatar emphasized their ongoing efforts to support Syria. The ministries of finance from both countries expressed their commitment to settle Syria's outstanding debt to the World Bank Group. This step follows recent discussions held during the High-level Roundtable on Syria at the 2025 WBG/IMF Spring Meetings.
The resolution of Syria's debt will enable the World Bank Group to resume its support and operations in Syria, which has been suspended for over 14 years. The move will also grant Syria access to financial aid for the development of critical sectors and provide technical assistance for rebuilding institutions, developing capacities, and formulating policies that foster development.
Saudi Arabia and Qatar have urged international and regional financial institutions to rapidly resume and expand their development efforts in Syria. They aim to enhance the quality of life for the Syrian people and help them achieve a future filled with opportunities and well-being, ultimately contributing to the stability and prosperity of the region.