Saudi Arabia, Qatar Settle Syria’s World Bank Debt
(MENAFN) Saudi Arabia and Qatar announced on Sunday that they will settle Syria's $15 million debt to the World Bank, marking a significant step in the country's post-conflict recovery efforts.
In a joint statement, both nations highlighted that clearing Syria's arrears would play a crucial role in speeding up its recovery.
“It will also unlock Syria’s access to financial support in the near term for the development of critical sectors, as well as technical assistance that will contribute to institutional rebuilding, capacity development, and policy formulation and reform to drive development,” the statement noted.
The two countries called for international and regional financial organizations to "quickly resume and expand their development work in Syria, combine their efforts, and support everything that would achieve the aspirations of the brotherly Syrian people for a promising future.”
Syria’s Gratitude
The Syrian Foreign Ministry noted, “Damascus extends deep thanks and appreciation to both Qatar and the Kingdom of Saudi Arabia for their generous brotherly initiative to announce the settlement of Syria’s financial arrears to the World Bank, which amounted to $15 million.”
The ministry emphasized that this move “reflects the shared commitment to support the Syrian people and alleviate their economic burdens, and opens the door to further enhancing cooperation with international institutions to support recovery and reconstruction efforts.”
The statement also affirmed that “Joint Arab cooperation is the best way to address the current challenges.”
Syria further expressed its desire to strengthen ties with Qatar and Saudi Arabia, looking forward to partnerships that would benefit the people and foster regional stability.
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