Saudi Arabia and Qatar announced their joint commitment to settle Syria’s $15 million debt to the World Bank, a move aimed at reversing the economic devastation caused by 14 years of war, according to a statement published by the Saudi Press Agency, as reported by Daily Post, Al Jazeera, Reuters, and AP News. The decision, described as a strategic step to support Syria’s interim government following the ouster of President Bashar al-Assad in December 2024, underscores the Gulf states‘ pivotal role in diplomatic outreach to Syria’s new leadership under interim President Ahmed al-Sharaa.
The statement from the finance ministries of Saudi Arabia and Qatar read, “The ministries of finance in the kingdom of Saudi Arabia and the state of Qatar jointly announce their commitment to settle Syria’s outstanding arrears to the World Bank Group, totalling around $15 million.” This action, finalized days after Syria’s central bank governor and finance minister attended the IMF and World Bank spring meetings in Washington—the first such participation in over 20 years—paves the way for Syria to resume accessing World Bank financial support and technical assistance, suspended since the war’s onset in 2011 following a brutal crackdown on pro-democracy protests, per The Express Tribune and The Business Standard.
The settlement is expected to unlock grants and support for critical sectors, with the statement noting, “This commitment will pave the way for the World Bank Group to resume support and operations in Syria after a suspension of more than 14 years. It will also unlock Syria’s access to financial support in the near term for the development of critical sectors.” The United Nations estimates Syria’s reconstruction costs at $250–$400 billion, with infrastructure decimated by the conflict that killed over 500,000 people, per AP News and The Washington Post. Qatar’s additional pledge to supply gas via Jordan to bolster Syria’s electricity grid, approved by the U.S., further signals Gulf commitment, per Reuters.
Since Assad’s ouster by Hay’et Tahrir al-Sham (HTS)-led rebels, Saudi Arabia and Qatar have led diplomatic efforts, with al-Sharaa visiting Riyadh in February and Doha in April 2025, per The Express Tribune and Al Jazeera. However, U.S. sanctions, maintained due to HTS’s past Al-Qaeda ties, pose challenges, with only a six-month humanitarian exemption issued in January 2025, per AP News. X posts, like @MarioNawfal and @AlexkennedyIran, framed the debt clearance as a geopolitical maneuver to counter Iran‘s influence and stabilize the region, though @Coldxcross suggested Qatar’s role is secondary to Saudi Arabia’s strategic leadership.
The move follows Syria’s re-engagement with global institutions, with its delegation’s Washington visit marking a diplomatic milestone, per Reuters. While the European Union has eased some energy and transport sanctions, the Trump administration’s limited engagement and HTS’s terrorist designation complicate reconstruction, per AP News and The New York Times. The Gulf states’ initiative, lauded by Syria’s Foreign Ministry for enabling recovery, positions them as key players in Syria’s economic revival, though the path forward hinges on navigating sanctions and ensuring inclusive governance, per Al Jazeera and The Economic Times.
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