{"id":16442,"date":"2025-04-24T12:56:44","date_gmt":"2025-04-24T12:56:44","guid":{"rendered":"https:\/\/www.watanserb.com\/en\/?p=16442"},"modified":"2025-04-24T12:56:44","modified_gmt":"2025-04-24T12:56:44","slug":"saudi-arabia-and-qatar-agree-to-pay-off-syrias-15-million-world-bank-debt-amid-reconstruction-efforts","status":"publish","type":"post","link":"https:\/\/www.watanserb.com\/en\/2025\/04\/24\/saudi-arabia-and-qatar-agree-to-pay-off-syrias-15-million-world-bank-debt-amid-reconstruction-efforts\/","title":{"rendered":"Saudi Arabia and Qatar Agree to Pay Off Syria\u2019s $15 Million World Bank Debt Amid Reconstruction Efforts"},"content":{"rendered":"

Watan<\/strong><\/em>-In exclusive remarks, Syria’s Central Bank Governor, Abdel Qader Housriya, revealed that Saudi Arabia and Qatar have agreed to pay off Syria’s $15 million debt to the World Bank.<\/p>\n

Speaking on the sidelines of the Spring Meetings of the International Monetary Fund (IMF) and World Bank in Washington, Housriya explained that Syria’s participation in these meetings marks the beginning of the country\u2019s integration into the global financial system and the start of its economic transformation.<\/p>\n

He added, \u201cWe have taken serious steps to reform Syria’s financial institutions to align with international financial standards, enhance transparency, and support sustainable development.\u201d<\/p>\n

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Syria\u2019s new government<\/figcaption><\/figure>\n
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Saudi Arabia and Qatar Commit to Settling Syria’s Debt, Paving the Way for Reconstruction Support<\/strong><\/h3>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n

A few days ago, Reuters reported that Saudi Arabia was considering settling Syria’s $15 million debt to the World Bank, paving the way for approval of millions of dollars in grants for the country\u2019s reconstruction and to support its struggling public sector. Observers believe that Gulf Arab support could open the door for Syria’s reconstruction, though U.S. sanctions remain an obstacle to Syria’s financial recovery efforts.<\/p>\n

A Syrian official delegation, led by Finance Minister Mohammad Yasser Bernia, participated in the Spring Meetings of the IMF and World Bank for the first time in over two decades. This is part of a broader plan aimed at re-engaging Syria with the global financial system and starting the reconstruction process after the fall of Bashar al-Assad’s regime in December 2024.<\/p>\n

Housriya revealed that during the meetings, international institutions and donors agreed to provide a $150 million grant for Syria\u2019s energy sector. He also confirmed an agreement on a comprehensive work plan over the next two years, which includes programs supported by grants to reform the energy sector, enhance transparency, reform public institutions, strengthen financial markets infrastructure, and reform the banking sector. The goal is to begin a well-planned economic transition with international partners.<\/p>\n

Housriya also confirmed that influential international financial actors have called for the lifting of international sanctions on Syria to aid in its reconstruction and help the government and people overcome the current difficult situation.<\/p>\n

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Saudi-Syria relations<\/figcaption><\/figure>\n
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Syria\u2019s Participation in IMF and World Bank Meetings Marks Key Step Toward Reconstruction and Stability<\/strong><\/h3>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
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On Wednesday, during the Spring Meetings of the IMF and World Bank, a closed session was held under the patronage of Saudi<\/a> Arabia in partnership with the bank and the fund. The Syrian delegation participated alongside G7 ministers and regional and international institutional heads, including from the European Union.<\/div>\n
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The participants emphasized the importance of rebuilding Syria and ensuring its stability. The Syrian delegation also met with World Bank President Ajay Banga and IMF Managing Director Kristalina Georgieva, both of whom affirmed their commitment to rebuilding Syria\u2019s institutions. Furthermore, the IMF agreed, at Syria’s request, to appoint Ron Van Roden as the head of its mission to Syria.<\/div>\n
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According to the IMF website, the last mission to Syria took place in late 2009, before the anti-Assad protests erupted, and there had been no official dealings with Syria by the fund in the past 40 years.<\/div>\n
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The IMF appointed prominent economist Ron Van Roden as the head of its mission to Syria, marking the first such step in 14 years, according to Syrian Finance Minister Mohammad Yasser Bernia, in a statement following the Syrian delegation\u2019s participation in the IMF and World Bank Spring Meetings in Washington.<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n","protected":false},"excerpt":{"rendered":"

Watan-In exclusive remarks, Syria’s Central Bank Governor, Abdel Qader Housriya, revealed that Saudi Arabia and Qatar have agreed to pay off Syria’s $15 million debt to the World Bank. Speaking on the sidelines of the Spring Meetings of the International Monetary Fund (IMF) and World Bank in Washington, Housriya explained that Syria’s participation in these …<\/p>\n","protected":false},"author":1,"featured_media":16443,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[5049,135,71,5048,2917],"class_list":["post-16442","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-abdel-qader-housriya","tag-qatar","tag-saudi-arabia","tag-syrias-debt","tag-the-world-bank"],"yoast_head":"\nSaudi Arabia and Qatar Agree to Pay Off Syria\u2019s $15 Million World Bank Debt Amid Reconstruction Efforts - Watan<\/title>\n<meta name=\"description\" content=\"Saudi Arabia and Qatar agree to pay Syria\u2019s $15 million debt to the World Bank, marking the first step in the country\u2019s economic integration\" \/>\n<meta name=\"robots\" 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