Saudi Arabia is reportedly planning to pay off Syria’s $15 million debt to the World Bank, according to multiple sources familiar with the matter.
This move could open the door for significant grants aimed at Syria’s reconstruction and public sector revitalization, marking the first known instance of Saudi financial support to Syria since the ousting of Bashar al-Assad last year.
The plan, which has not been previously disclosed, could signal a shift in Gulf Arab countries' stance toward Syria, with support possibly beginning to materialize after prior initiatives—such as Qatar’s plan to fund salaries—were stalled due to uncertainties over U.S. sanctions. Last month, Qatar also announced plans to supply gas to Syria via Jordan to improve its power grid, a move that reportedly received U.S. approval.
While the Saudi Ministry of Finance declined to comment on the matter, a spokesperson stated, "We do not comment on speculation, but make announcements if and when they become official." Neither the Saudi government’s media office, the World Bank, nor Syrian officials responded immediately to requests for further comment.
The World Bank had previously withheld aid to Syria due to its outstanding debts. However, the payment of these arrears is a crucial step toward securing international financing for rebuilding critical infrastructure, including Syria’s war-torn power grid, and supporting the country’s public sector, sources noted.
Syria’s financial difficulties are compounded by a severe shortage of foreign currency, and a prior plan to pay off the debts using frozen assets abroad failed to come to fruition. This development could mark a turning point for Syria, which has struggled to access international aid following years of conflict and sanctions.
In a related move, Syria is set to send a high-level delegation to the U.S. for the World Bank and IMF’s annual spring meetings later this month, marking the first visit by Syrian officials to the U.S. since Assad’s removal from power. However, it remains unclear whether the delegation will meet with any U.S. officials, given the continuation of tough sanctions against Syria.
The U.S. has issued some limited sanctions relief in the past, such as a six-month exemption for humanitarian aid, but overall engagement with Syria’s new leadership has been minimal. There remains a split within the White House regarding Syria, with some officials advocating a hardline approach, citing the new government’s previous ties to Al-Qaeda as a reason for limited engagement.
Despite the ongoing sanctions, Saudi Arabia’s potential intervention could be a critical factor in helping Syria recover from years of devastation, with the World Bank’s involvement contingent upon the resolution of the debt issue.
Saudi Arabia and Qatar will provide joint financial support for Syrian state employees, Saudi Foreign Minister Prince Faisal bin Farhan announced during a visit to Damascus, as regional efforts to support Syria’s reconstruction gain momentum.
Saudi Arabia has privately urged Iran to swiftly accept a nuclear agreement proposed by U.S. President Donald Trump, warning that delays could trigger an Israeli military strike and plunge the region into deeper conflict, sources familiar with the matter told Reuters.
Canadian Prime Minister Mark Carney held a conversation with Saudi Crown Prince Mohammed bin Salman on Thursday, focusing on energy security, strengthening trade ties, and regional stability.
Saudi Arabia’s low-cost airline flyadeal is preparing to launch flights to Syria as early as July, its CEO Steven Greenway announced on Wednesday, signaling a major step in the normalization of regional air travel with the war-torn country.
Turkish Foreign Minister Hakan Fidan and his Saudi counterpart Prince Faisal bin Farhan convened in Riyadh for the second session of the Turkish-Saudi Coordination Council, aiming to strengthen ties and address regional challenges.
Landslides and flash floods caused by days of heavy monsoon rain have killed at least 22 people in India’s northeast, officials said.
Cambodian Prime Minister Hun Manet said Saturday that the border conflict with Thailand “must be resolved with patience and through legal and diplomatic channels.”
Iran’s Foreign Minister Abbas Araqchi spoke by phone with IAEA Director Rafael Mariano Grossi, warning that any political actions against Iran at next week’s Board of Governors meeting would have consequences.
Türkiye expressed deep sorrow Saturday over the devastating floods in Nigeria’s Niger State, which have claimed over 150 lives.
A bridge collapse in the Vygonichsky district of Russia’s Bryansk region, near the Ukrainian border, caused a train derailment and a traffic accident early Sunday, killing at least seven people and leaving 30 injured, according to emergency services.
On May 28, the inauguration ceremony of Lachin International Airport was held.
A car drove into crowds of Liverpool fans celebrating the club’s Premier League title in the city centre on Monday evening, injuring dozens including 4 children. A 53-year-old man believed to be the driver was arrested at the scene.
EU ministers have greenlit a massive €150 billion defense investment fund—dubbed the Security Action for Europe (SAFE)—as the bloc ramps up its military readiness in response to Russia’s aggression and growing uncertainty over U.S. security guarantees.
Brazil’s economy is expected to have regained momentum in the first quarter of 2025, driven by a surge in household spending and private investment, according to a Reuters poll of economists conducted from May 21–26.
An international academic conference titled "Islamophobia: Exposing Prejudice and Destroying Stigma" has officially opened in the capital of Azerbaijan, bringing together global scholars, experts, and policymakers to address the rise and consequences of anti-Muslim discrimination.
Türkiye’s first floating natural gas production platform, Osman Gazi, reached Filyos Port in Zonguldak on May 31.
Authorities in Whatcom County, Washington, issued a warning Friday after a truck carrying honey bee hives overturned near the Canadian border, initially prompting fears that millions of bees had been released.
German Chancellor Friedrich Merz will travel to Washington next week to meet U.S. President Donald Trump.
Landslides and flash floods caused by days of heavy monsoon rain have killed at least 22 people in India’s northeast, officials said.
Cambodian Prime Minister Hun Manet said Saturday that the border conflict with Thailand “must be resolved with patience and through legal and diplomatic channels.”
Landslides and flash floods caused by days of heavy monsoon rain have killed at least 22 people in India’s northeast, officials said.
Cambodian Prime Minister Hun Manet said Saturday that the border conflict with Thailand “must be resolved with patience and through legal and diplomatic channels.”
Iran’s Foreign Minister Abbas Araqchi spoke by phone with IAEA Director Rafael Mariano Grossi, warning that any political actions against Iran at next week’s Board of Governors meeting would have consequences.
Türkiye expressed deep sorrow Saturday over the devastating floods in Nigeria’s Niger State, which have claimed over 150 lives.
A bridge collapse in the Vygonichsky district of Russia’s Bryansk region, near the Ukrainian border, caused a train derailment and a traffic accident early Sunday, killing at least seven people and leaving 30 injured, according to emergency services.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment