Gulf States Pay Off $15.5 Million Syrian Debt to World Bank - The New York Times


Saudi Arabia and Qatar paid off Syria's $15.5 million debt to the World Bank, enabling the country's re-engagement with the institution for reconstruction and recovery.
AI Summary available — skim the key points instantly. Show AI Generated Summary
Show AI Generated Summary

The World Bank said on Friday that it had cleared Syria’s $15.5 million debt after payments by Saudi Arabia and Qatar, making the country eligible again for grants to fund reconstruction and economic recovery.

“We are pleased that the clearance of Syria’s arrears will allow the World Bank Group to re-engage with the country and address the development needs of the Syrian people,” the bank said in a statement. “After years of conflict, Syria is on a path to recovery and development.”

It marked the latest victory for Syria’s new government as it attempts to forge a stable path forward for the country after nearly 14 years of civil war and decades of dictatorship under the Assad family. The debt relief came days after President Trump made the surprise announcement on Tuesday that the United States would lift sanctions on Syria.

A day later, Mr. Trump met Syria’s new president, Ahmed al-Shara, in the Saudi capital, Riyadh, where he was on a state visit. The extraordinary meeting was the first between leaders of the two countries in 25 years, and signaled both a dramatic shift in U.S. policy and another step in Syria’s rapidly easing diplomatic isolation.

Since a rebel coalition led by Mr. al-Shara overthrew President Bashar al-Assad in December, Saudi Arabia and Qatar have expressed a desire to provide financial support to Syria’s new authorities but have also voiced concerns about potentially violating U.S. sanctions.

While the exact terms and timeline of lifting these sanctions remain unclear, the move by the two resource-rich Gulf states underscored how Mr. Trump’s announcement is enabling countries to extend assistance without fear.

We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.

Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.

Thank you for your patience while we verify access.

Already a subscriber? Log in.

Want all of The Times? Subscribe.

Was this article displayed correctly? Not happy with what you see?

We located an Open Access version of this article, legally shared by the author or publisher. Open It
Tabs Reminder: Tabs piling up in your browser? Set a reminder for them, close them and get notified at the right time.

Try our Chrome extension today!


Share this article with your
friends and colleagues.
Earn points from views and
referrals who sign up.
Learn more

Facebook

Save articles to reading lists
and access them on any device


Share this article with your
friends and colleagues.
Earn points from views and
referrals who sign up.
Learn more

Facebook

Save articles to reading lists
and access them on any device