Saudi Arabia and Qatar to repay Sirias's debt to the World Bank

Beirut (AP) -Soedi Arabia and Qatar said on Sunday that they would pay Syria’s outstanding debt to the World Bank, a move that is likely to help the international institution resume its support for the war-torn country. In a joint statement by the finances of Saudi and Qatar, it is said that the decision to pay Syria’s nearly $ 15 million debt to the World Bank during this month’s meetings by the World Bank and the IMF. The Ministry of Foreign Affairs thanked the two oil and hosts for paying the debt and said it opened the way to activation of cooperation to recovery and reconstruction after a 14-year conflict that killed half a million people and caused wide destruction in the country. Since the fall of the Bashar Assad government in early December, when rebellious groups led by Islamic Hayat Tahrir Al-Sham stormed his power seat in Damascus, Saudi Arabia and Qatar, the most important supports of the country’s new leadership. In 2017, the United Nations estimated that it would cost at least $ 250 billion to rebuild Syria. Some experts now believe that the number could reach at least $ 400 billion. The joint Saudi Catari statement said that the payment of Syria’s loans would facilitate the resumption of World Bank Support and activities in Syria for more than 14 years. The statement added that the loan payment Syria will enable in the near future to take an important sector of the World Bank. It did not expand. Syria’s infrastructure had wide destruction during the conflict that broke out in March 2011. Qatar started with natural gas last month through Jordan to alleviate the long hours of electricity cuts that occur in a large part of the country. A major obstacle to development projects in Syria is Western sanctions set on the country more than a decade ago, mainly on the government and officials of Assad. The Trump administration has not yet formally recognized the new Syrian government led by President and HTS leader Ahmad Al-Sharaa. HTS remains an American-designated terrorist organization, and the sanctions that Damascus has introduced under Assad remain in place. However, Washington relieved some restrictions. In January, the US Treasury issued a general license, which lasts six months, authorizing certain transactions with the Syrian government, including energy sales and accidental transactions. The European Union, meanwhile, has begun to facilitate energy and transport sanctions and bank restrictions against Syria and suspend measures on oil, gas and electricity as well as transport, including the aviation sector. The British government said on Thursday that they raised sanctions at a dozen Syrian entities, including government departments and media outlets. First published: 28 Apr 2025, 12:26 am Ist