Saudi Arabia and Qatar to Clear Syria’s $15 Million World Bank Debt

 Saudi Arabia and Qatar have pledged to settle Syria’s $15 million World Bank debt, enabling the country to access new loans and grants for reconstruction following the collapse of Bashar al-Assad’s regime in December 2024. 

The agreement, announced on April 25, 2025, during a Gulf Cooperation Council (GCC) summit in Doha, reflects a strategic move to support Syria’s interim government, led by Hayat Tahrir al-Sham (HTS), and counter Iranian influence in the region. Saudi Arabia will contribute $9 million, with Qatar covering $6 million, clearing arrears that had blocked Syria’s World Bank access since 2012.

The debt settlement unlocks up to $1.2 billion in World Bank funding for projects targeting Syria’s 14 million people in need, including rebuilding water systems, schools, and hospitals. World Bank Vice President Ferid Belhaj called the move a “pivotal moment” for Syria’s recovery, with initial grants expected by June 2025. 

Saudi Foreign Minister Prince Faisal bin Farhan emphasized the need for a stable Syria, while Qatar’s Emir Sheikh Tamim bin Hamad Al Thani linked the initiative to broader GCC investments, including Qatar’s $500 million commitment to Syria’s energy sector.

The deal follows Saudi Arabia’s reopening of its Damascus embassy and aligns with U.S.-led efforts to stabilize Syria, though HTS’s terrorist designation by some Western countries complicates further aid.