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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 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.

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Zawya broke the news in on Friday, May 16, 2025.
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