US EditionSaudi Arabia and Qatar to repay Syria’s debts to World Bank
- Saudi Arabia and Qatar will repay Syria's debt to the World Bank, totaling around $15 million, as announced by the Saudi Press Agency.
- The payment will allow the World Bank to resume its support and operations in Syria after more than 14 years of suspension due to the conflict, which destroyed much of the country's infrastructure.
- Syria's Foreign Ministry expressed gratitude for the debt payment, stating it will aid cooperation in recovery and reconstruction following the war.
- Western sanctions remain a major obstacle for development projects in Syria, but the U.S. and EU have begun easing some restrictions.
65 Articles
65 Articles
Syria needs money and men. It just got more of both.
In recent days, Syria has taken two more big steps toward recovery. First, Saudi Arabia and Qatar announced they will jointly pay off Syria’s $15 million of World Bank debt. The act of largesse by the two wealthy Gulf kingdoms unlocks further World Bank financing and technical assistance for Syria, which lies in ruins after nearly 15 years of brutal civil war and mass emigration. Second, the Syrian Army will allow former Assad regime troops to e…
Saudi Arabia, Qatar pledge to wipe out Syria’s World Bank debt
FacebookLikeShareTweetEmail Saudi Arabia and Qatar have pledged to settle Syria’s $15m World Bank debt, clearing a major obstacle to the country’s recovery. The Gulf nations announced on Sunday that they would jointly pay Syria’s outstanding $15 million debt to the World Bank, describing the move as a step towards supporting the country’s recovery and rebuilding […]
The two Gulf states surprise with their cooperation, enabling the urgent reform of the Syrian financial sector to be advanced.
Daily Post Nigeria
Nigerian News. Latest Nigeria News. Your online Nigerian Newspaper.Saudi Arabia, Qatar give reason for settling Syria’s World Bank debt
Saudi Arabia and Qatar have explained the reason they agreed to clear Syria’s debt to the World Bank, amounting to around $15 million, according to a statement published by the Saudi Press Agency. The countries noted that the move is aimed at helping reverse the economic fortunes of a nation beset by years of war. Both Gulf states have played a key role in the diplomatic outreach to Syria’s new interim government since the ouster of longtime lea…
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