Syria regains World Bank funding after Saudi Arabia and Qatar pay $15.5 million debt
The unpaid amount, owed to the International Development Association (IDA) — the World Bank’s fund for the poorest nations — was fully settled by May 12, reopening Syria’s eligibility for new projects, the bank said in a statement.
“As of May 12, 2025, there are no outstanding IDA credit balances for the Syrian Arab Republic,” the statement read, adding that any future cooperation will depend on Syria meeting World Bank policies.
This development came shortly after US President Donald Trump announced at the 2025 Saudi-US Investment Forum in Riyadh that he would lift “brutal and crippling” US sanctions on Syria, which had been imposed before the fall of the Assad regime.
The day after Trump’s announcement, he met Syrian President Ahmed al-Sharaa in Saudi Arabia — marking the first meeting between the two countries’ leaders in 25 years.
Bashar Assad, who ruled Syria for nearly 25 years, fled to Russia on December 8, 2024, ending the Baath Party’s long-standing control since 1963.
Start your day informed with AnewZ Morning Brief: here are the top news stories for 4th of July, covering the latest developments you need to know....
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Start your day informed with AnewZ Morning Brief: here are the top news stories for 4th of July, covering the latest developments you need to know.
Hamas is seeking firm assurances that a new U.S.-backed ceasefire proposal will ultimately bring the Gaza conflict to an end, a source close to the group said on Thursday, as Israeli airstrikes continued across the territory, killing at least 59 people, according to local health officials.
Russia launched an overnight drone assault on Kyiv, injuring at least 14 people and causing fires and damage across the capital, Ukrainian officials said early Friday. Twelve of the injured were taken to hospital, according to Mayor Vitali Klitschko.
U.S. President Donald Trump said that his phone call earlier in the day with Russian President Vladimir Putin yielded no progress in ending the war in Ukraine.
A magnitude 5.5 earthquake struck off Japan’s Tokara Islands on Wednesday, with no tsunami warning issued but residents advised to remain vigilant.
The United States has rescinded licensing restrictions on ethane exports to China, allowing shipments to resume after a temporary halt and signalling progress in efforts to ease recent trade tensions.
The European Commission is set to propose allowing carbon credits from other countries to count towards the EU’s 2040 climate target, according to a leaked internal document.
China has ramped up efforts to protect communities impacted by flood control measures, introducing stronger compensation policies and direct aid from the central government.
Italy plans to grant approximately 500,000 work visas to non-EU nationals between 2026 and 2028, as announced in a cabinet statement. The initiative aims to address labor shortages by expanding legal immigration pathways
More than a 1,000 civil society representatives gathered in Seville this week for a major United Nations conference on development financing, but many said they left feeling side lined and frustrated, with expectations already low before the event began.
Start your day informed with AnewZ Morning Brief: here are the top news stories for 4th of July, covering the latest developments you need to know.
Hamas is seeking firm assurances that a new U.S.-backed ceasefire proposal will ultimately bring the Gaza conflict to an end, a source close to the group said on Thursday, as Israeli airstrikes continued across the territory, killing at least 59 people, according to local health officials.
Russia launched an overnight drone assault on Kyiv, injuring at least 14 people and causing fires and damage across the capital, Ukrainian officials said early Friday. Twelve of the injured were taken to hospital, according to Mayor Vitali Klitschko.
U.S. President Donald Trump said that his phone call earlier in the day with Russian President Vladimir Putin yielded no progress in ending the war in Ukraine.
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