US EditionWorld Bank says Saudi Arabia and Qatar have paid off Syria's outstanding debt
- The World Bank announced on Friday that Saudi Arabia and Qatar paid off Syria's $15.5 million debt to the International Development Association.
- Saudi Arabia and Qatar declared last month their intention to clear Syria’s arrears, aiming to enable new financing for the country.
- Syria has endured a 14-year civil war that killed half a million people, destroyed infrastructure, and caused severe electricity shortages.
- The World Bank expressed satisfaction that Syria's debt repayment has enabled the institution to renew its involvement with the country.
- Clearing Syria’s debt is expected to permit new loans and support recovery efforts, beginning with projects focused on access to electricity.
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The World Bank will resume operations in Syria after 14 years, after Saudi Arabia and Qatar settled the country's debt to the international financial institution.
On Friday, May 16, the World Bank said Saudi Arabia and Qatar had paid $15.5 million owed to it by Syria.
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Total News Sources28
Leaning Left7Leaning Right3Center5Last UpdatedBias Distribution47% Left
Bias Distribution
- 47% of the sources lean Left
47% Left
L 47%
C 33%
R 20%
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