Riyadh: In a joint effort to boost the Syrian economy, the Kingdom of Saudi Arabia and the State of Qatar have announced their commitment to settle Syria's outstanding arrears to the World Bank Group, which amounts to approximately $15 million. This announcement follows recent discussions during the High-level Roundtable on Syria at the 2025 WBG/IMF Spring Meetings.
According to Saudi Press Agency, the settlement of these arrears is expected to enable the World Bank Group to resume its support and operations in Syria after a 14-year suspension. The resumption of support is anticipated to unlock immediate financial assistance for Syria, aiding in the development of critical sectors. Additionally, it will provide technical assistance to help with institutional rebuilding, capacity development, and policy formulation and reform, aiming to drive development in the region.
The Kingdom of Saudi Arabia and the State of Qatar have urged international and regional financial institutions to promptly resume and expand their development engagement in Syria. They emphasized the importance of aligning efforts with institutional mandates to enhance the living conditions of the Syrian people and fulfill their aspirations for a future of opportunity and well-being. This initiative is seen as a step towards broader stability and prosperity in the region.