World Bank says Saudi Arabia and Qatar have paid off Syria's outstanding debt
- The World Bank announced on Friday that Saudi Arabia and Qatar have paid off Syria's $15.5 million debt to its International Development Association.
- This payment follows last month's announcement by Saudi Arabia and Qatar to clear Syria's arrears, allowing Damascus to access new loans despite ongoing reconstruction challenges.
- Syria's prolonged 14-year war resulted in the deaths of approximately 500,000 people and widespread devastation, leaving the country with severe power shortages and about 90% of its population living in poverty.
- The World Bank expressed its satisfaction that settling Syria's outstanding debts will enable it to renew its involvement in the country and support the development priorities of the Syrian population.
- Syria hailed the debt clearance as paving the way for recovery, while efforts focus on electricity access amid Western sanctions that have hindered reconstruction so far.
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World Bank says Saudi Arabia and Qatar have paid off Syria’s outstanding debt
The World Bank said on Friday that the $15.5 million Syria owes has been paid off by Saudi Arabia and Qatar, clearing Damascus to take out new loans. Saudi Arabia and Qatar had announced plans last month to clear Syria’s outstanding debts, a move that Syria hailed as paving the way for recovery and reconstruction after a 14-year conflict that killed half a million people and caused wide destruction in the country. The debt was owed to the World …
·London, United Kingdom
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World Bank says Saudi Arabia and Qatar have paid off Syria's outstanding debt
The World Bank says that the $15.5 million Syria owed it has been paid off by Saudi Arabia and Qatar, enabling Damascus to take out new loans.
·United States
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