Saudi Arabia Could Pay Off Syria’s World Bank Debt

Saudi Arabia will pay off Syria’s World Bank debt, sources told Reuters. It would be the first reported Saudi support to Syria since the deposition of previous leader Bashar al-Assad in 2024.The gesture could unlock tens of millions of dollars in grants to rebuild Syria and assist its faltering public sector.

Syria already owes around $15 million to the World Bank. Until then, the Bank cannot provide further financial assistance.The Saudi government has not yet officially endorsed the plan.

A Ministry of Finance spokesperson stated they do not comment on speculation.The Syrian government and World Bank have also not commented on requests.Syria’s electricity grid and public services urgently require assistance after decades of conflict.

An earlier attempt to settle the debt through Syria’s blocked assets failed. Saudi aid now may pave the way for international aid.Recently, Qatar also intervened, promising to deliver gas to Syria through Jordan to help boost electricity.

That action was reportedly approved by the U.S.In the meantime, Syria plans to send a high-level delegation to the World Bank and IMF gathering in Washington later this month.

It will be the first such visit since Assad was ousted from office.While the U.S. continues to have severe sanctions against Syria, some have been temporarily lifted to permit humanitarian assistance.

U.S. policy toward Syria, however, is still split, with some officials advocating stricter restrictions because of fears about Syria’s current leadership.

If Saudi Arabia goes through with it, it would be a turning point in Gulf support for Syria’s recovery.