By Hamzah Khan
Indosnews.com – April 29, 2025
In a significant move to support Syria's post-conflict recovery, Saudi Arabia and Qatar have jointly agreed to pay off Syria's outstanding debt of approximately $15 million to the World Bank. This decision, announced during the recent World Bank and International Monetary Fund (IMF) meetings in Washington, aims to unlock international grants and facilitate the resumption of World Bank operations in Syria after a 14-year hiatus.
The repayment is expected to enable Syria to access immediate financial assistance aimed at rebuilding critical public sectors, including infrastructure and public services. This marks the first known instance of Saudi financial aid to Syria since the ousting of former leader Bashar al-Assad by Islamist-led rebels in late 2024.
Syria's new leadership, under interim President Ahmed al-Sharaa, has expressed gratitude for the support, noting that it paves the way for cooperation in recovery and reconstruction efforts after years of conflict that have devastated the country's infrastructure and economy.
The joint statement by Saudi Arabia and Qatar encourages other international and regional financial institutions to resume and expand their support for Syria. The move also signifies the potential reengagement of Gulf Arab countries in Syria's reconstruction efforts, after previous initiatives were delayed due to concerns over Western sanctions.
As Syria works to rebuild, the settlement of its World Bank debt is seen as a critical step toward restoring economic stability and attracting further international assistance.
Refrence: https://trt.global/world/article/02a0642142d0
International Monetary and Financial Committee (IMFC) Chair, Saudi Finance Minister Mohammed Al Jadaan speaks at an International Monetary and Financial Committee press briefing at the 2025 annual IMF/World Bank Spring Meetings in Washington, DC, US, April 25, 2025. / Reuters
0 Bemerkungen