Saudi Arabia, Qatar to Settle Syria's Arrears to World Bank worth $15 Million

Saudi Arabia and Qatar have announced their commitment to repay Syria's arrears to the World Bank, amounting to approximately $15 million.

This represents Riyadh's first announced financial move toward Damascus in years and could pave the way for broader Gulf support for the struggling Syrian economy.

According to a joint statement from the two countries, settling these arrears will pave the way for the World Bank to resume its operations in Syria, after a hiatus of more than fourteen years. This step will also allow for the release of new financial grants to support the reconstruction of vital sectors and revitalize the public sector, paralyzed by years of war and sanctions.

Syria, which has accumulated these small debts compared to the magnitude of its economic crisis, has been unable to obtain any new funding or grants over the past period due to the World Bank's suspension of its dealings with it, which has slowed reconstruction efforts. Now, with Saudi Arabia and Qatar shouldering the burden of repayment, the doors appear open to new financial flows that could gradually change the landscape.

In the statement, Saudi Arabia and Qatar called on international and regional financial institutions to "move quickly to resume expanding their development activities in Syria," a clear indication of the two countries' desire to play a greater role in redrawing the country's economic map.

This step may not be of significant financial value in itself, but it carries a powerful political signal: that a chapter in Syria's economic isolation may have been turned, or at least gradually revealed, amid more flexible international conditions.