Saudi Arabia and Qatar to repay Syria’s debts to World Bank

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 Bail Out War-Ravaged Syria

Qatar and Saudi Arabia announced that they would be paying back the approximately $15 million that Syria owes to the World Bank.

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.

Saudi Arabia, Qatar pledge $15m to eliminate Syria's World Bank debt

The new Syrian government is seeking to open the country to international lenders and impose austerity measures such as slashing subsidies and mass public sector layoffs

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…