In a significant move towards Syria’s economic recovery, Saudi Arabia and Qatar have jointly paid off Syria’s outstanding $15.5 million debt to the World Bank’s International Development Association (IDA). This payment clears the path for Syria to reengage with the World Bank after a 14-year hiatus, enabling access to new loans and technical assistance essential for rebuilding the war-torn nation.
The debt settlement was announced during the World Bank and International Monetary Fund (IMF) Spring Meetings in Washington, D.C., where Syria’s central bank governor and finance minister participated for the first time in over two decades . The World Bank confirmed that with the arrears cleared, it plans to resume operations in Syria, focusing initially on restoring access to electricity—a critical need as many Syrians currently receive only two hours of electricity per day .
Syria’s infrastructure has been devastated by a 14-year civil war that resulted in approximately 500,000 deaths and displaced millions. The conflict ended in December 2024 when former President Bashar al-Assad was ousted by insurgent groups led by Hayat Tahrir al-Sham (HTS). The new government, under President Ahmad al-Sharaa, has been working to rebuild diplomatic ties and attract international support for reconstruction efforts .
The joint payment by Saudi Arabia and Qatar signifies a broader regional effort to support Syria’s recovery. Both nations have called on international and regional financial institutions to resume and expand their development engagement in Syria. This includes providing financial support for critical sectors and technical assistance for institutional rebuilding and policy reform .
The United States has also indicated a shift in its stance. President Donald Trump announced plans to lift sanctions imposed during the Assad era, which have been a significant obstacle to development and reconstruction projects. This move is expected to facilitate international investments in Syria’s rebuilding efforts .Reuters+3ABC News+3AP News+3AP News
Additionally, Qatar has begun supplying Syria with natural gas through Jordan to alleviate the country’s severe electricity shortages. The United Nations estimates that 90% of Syrians live in poverty, highlighting the urgent need for economic revitalization and infrastructure development .
The settlement of Syria’s debt to the World Bank marks a pivotal step in the nation’s journey towards recovery. With renewed access to international financial support and a commitment from regional partners, Syria is poised to embark on a path of reconstruction and economic development.Perplexity AI+11L’Orient Today+11Al Jazeera+11
