Gulf States Pay Off $15.5 Million Syrian Debt to World Bank
The World Bank said on Friday that it had cleared Syria’s $15.5 million debt after payments by Saudi Arabia and Qatar, making the country eligible again for grants to fund reconstruction and economic recovery.“We are pleased that the clearance of Syria’s arrears will allow the World Bank Group to re-engage with the country and address the development needs of the Syrian people,” the bank said in a statement. “After years of conflict, Syria is on a path to recovery and development.”It marked the latest victory for Syria’s new government as it attempts to forge a stable path forward for the country after nearly 14 years of civil war and decades of dictatorship under the Assad family. The debt relief came days after President Trump made the surprise announcement on Tuesday that the United States would lift sanctions on Syria.A day later, Mr. Trump met Syria’s new president, Ahmed al-Shara, in the Saudi capital, Riyadh, where he was on a state visit. The extraordinary meeting was the first between leaders of the two countries in 25 years, and signaled both a dramatic shift in U.S. policy and another step in Syria’s rapidly easing diplomatic isolation.Since a rebel coalition led by Mr. al-Shara overthrew President Bashar al-Assad in December, Saudi Arabia and Qatar have expressed a desire to provide financial support to Syria’s new authorities but have also voiced concerns about potentially violating U.S. sanctions.While the exact terms and timeline of lifting these sanctions remain unclear, the move by the two resource-rich Gulf states underscored how Mr. Trump’s announcement is enabling countries to extend assistance without fear.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe.
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