Saudi Arabia and Qatar step up to pay Syria's World Bank debt

In April 2025, Saudi Arabia and Qatar announced their decision to pay Syria's outstanding debt of nearly $15 million to the World Bank. This move was conveyed through a joint statement by the finance ministries of both countries during meetings held with the World Bank and the International Monetary Fund in Washington. The Syrian Foreign Ministry expressed gratitude to both nations, highlighting that the debt repayment could pave the way for collaboration towards recovery and reconstruction following over a decade of conflict that devastated the country. Syria's prolonged civil war, which began in March 2011, has resulted in an estimated death toll exceeding half a million people and left significant damage to its infrastructure. The rebuilding costs have been projected to escalate dramatically; the United Nations initially estimated a minimum of $250 billion for reconstruction, but experts now suggest the figure could reach approximately $400 billion. The financial assistance from Saudi Arabia and Qatar is expected to facilitate the resumption of World Bank support and activities, which have been non-existent for more than 14 years. The new Syrian governance, which arose after the fall of Bashar Assad's government in December 2024, has received backing from both Saudi Arabia and Qatar. This partnership indicates a shift in dynamics within the region and a potential reopening of economic cooperation between these countries and Syria. Recent actions include Qatar supplying natural gas to Syria via Jordan to alleviate frequent electricity shortages. However, Syria faces various obstacles in its development projects due to Western sanctions targeting the Assad regime and its affiliates, further complicating the road ahead for its recovery. While sanctions remain in place, the United States has begun to ease some restrictions, with the Treasury issuing a general license for certain transactions related to energy sales and incidental dealings with the Syrian government. Additionally, the European Union has also relaxed some sanctions, particularly concerning energy, transportation, and banking. The ongoing adjustments in international attitudes towards Syria signal a potential shift in how global powers will engage with the country moving forward, amid the complex backdrop of international relations in the region.