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Saudi Arabia plans to repay Syria's debts to the World Bank! Reuters: They pave the way for the approval of grants for the reconstruction of the country
2025-04-14 19:12:15 / BOTA
Reuters reports that Saudi Arabia is planning to repay Syria's debts to the World Bank, paving the way for the approval of millions of dollars in grants for reconstruction and to support the country's paralyzed public sector.
The plans, which have not been previously reported, would be the first known instance of Saudi Arabia providing funding to Syria since Islamist-led rebels toppled former leader Bashar al-Assad last year.
It could also be a sign that substantial Arab support for Syria is starting to materialize after previous plans, including a Doha initiative to finance salaries, were hampered by uncertainty over US sanctions.
Last month, Qatar announced a plan to supply Syria with gas via Jordan to improve the country's poor electricity supply, a move that sources told Reuters had Washington's approval.
A Saudi Finance Ministry spokesman told Reuters: "We do not comment on speculation, but we make announcements when they become official."
The Saudi government's media office, a World Bank spokesman and a Syrian government official did not immediately respond to requests for comment.
Syria owes the World Bank about $15 million, which must be repaid before the international financial institution can approve grants and provide other forms of aid.
But Damascus lacks foreign currency and the plan to repay debts using assets frozen abroad did not materialize, according to two people familiar with the matter.
World Bank officials have discussed providing financing to help rebuild the country's power grid, badly damaged by years of war, and also to support public sector payments, two of the sources said.
Reuters reported on Saturday that Syria would send a high-level delegation to Washington for the annual spring meetings of the World Bank and IMF, marking the first visit by Syrian officials to the US since the ouster of Assad.
It is unclear whether the Syrian delegation will meet with any US officials. Tough US sanctions imposed during Assad's rule remain in place.
In January, the US issued a six-month waiver for some sanctions to encourage humanitarian aid, but this has had limited effect.
Last month, the US gave Syria a list of conditions to meet in exchange for partial sanctions relief, but the administration of US President Donald Trump has engaged little with the country's new rulers.
This is partly due to differing views in Washington on how to approach Syria.
Some White House officials have been inclined to take a tougher stance, pointing to the new Syrian leadership's previous ties to al-Qaeda as a reason to keep engagement to a minimum, according to diplomats and US sources.
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