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Saudi Arabia and Qatar ready to repay Syria's debt to the World Bank
2025-04-27 21:30:51 / BOTA
Saudi Arabia and Qatar have pledged to write off Syria's debt to the World Bank, removing an obstacle to the country's new leadership receiving funds from the international lender as it tries to revive its war-torn economy.
Gulf countries announced a joint commitment to repay nearly $15 billion in outstanding debt, following high-level discussions on post-war Syria at the World Bank/International Monetary Fund 2025 Spring Meetings last week, as they seek to support economic recovery under the new government of President Ahmed Hussein al-Sharaa.
However, United States sanctions imposed on the government of former President Bashar al-Assad remain a significant obstacle to Syria receiving the support it needs to rebuild after a long civil war.
The conflict, which has killed more than 600,000 people and displaced millions, had almost halved Syria's GDP since 2010, a year before it began, and the cost of reconstruction is estimated at $400 billion.
Republican lawmakers Cory Mills and Marlin Stutzman visited Damascus last week and met with Sharaa on an unofficial trip organized by influential Syrian-Americans.
Mills told Bloomberg that he spoke with Sharaa about the terms of the partial lifting of economic sanctions and will deliver a letter from the latter to President Donald Trump.
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