Saudi Arabia, Qatar settle Syria’s World Bank arrears with $15m payment

Dubai: Saudi Arabia and Qatar have jointly announced the payment of $15 million to settle Syria’s outstanding arrears to the World Bank Group.

This critical payment will allow the resumption of the World Bank’s financial and technical support to Syria, following a 14-year suspension prompted by the country’s prolonged conflict. The reinstatement of World Bank engagement is expected to unlock Syria’s access to much-needed allocations aimed at supporting key sectors during the coming period.

In addition to financial assistance, Syria will benefit from technical support programmes designed to aid the rebuilding of its institutions, strengthen capacity development, and assist in setting and reforming policies. These efforts are intended to accelerate the pace of recovery and development in a country that has endured years of devastation.

The initiative underscores a significant step toward re-integrating Syria into international development frameworks and promoting stability and reconstruction efforts.