Saudi Arabia Moving Towards Supporting Syria: A Plan to Repay World Bank Debts
April 14, 2025, 3:38 pm

Saudi Arabia Moving Towards Supporting Syria: A Plan to Repay World Bank Debts

السعودية تتجه نحو دعم سوريا

Three informed sources revealed that Saudi Arabia is formulating a plan to repay Syria's debts owed to the World Bank, which would pave the way for the approval of grants worth millions of dollars to support reconstruction efforts and bolster the struggling Syrian public sector.

This initiative marks the first of its kind proposed by Saudi Arabia since the overthrow of former President Bashar al-Assad last year by fighters led by Islamists. This development is seen as a sign of the commencement of important Gulf Arab support for Syria, following the stagnation of previous plans, including a Qatari initiative to fund salaries due to issues surrounding American sanctions.

Last month, Qatar announced a plan to supply Syria with gas via Jordan to improve the country’s limited electricity supplies, a move that received implicit approval from Washington, according to sources reported by Reuters.

A spokesperson for the Saudi Ministry of Finance confirmed to Reuters, stating: “We do not comment on speculation, but we make announcements when they become official.” The Saudi government’s media office, the World Bank spokesman, and any Syrian government officials did not provide immediate responses to requests for comment.

Syria currently faces debts amounting to approximately $15 million owed to the World Bank, and this amount must be paid before the bank can approve new aid or grants. Damascus is struggling with a severe shortage of foreign currency, and a previous plan to repay debts using frozen Syrian assets abroad has faltered, according to informed sources.

In the context of support, World Bank officials discussed the possibility of providing funding to help rebuild the country’s electricity network, which has been severely damaged due to years of war, as well as supporting public sector salaries.

According to Reuters, Syria will send a high-level delegation to Washington to participate in the World Bank and International Monetary Fund’s spring annual meetings this month, marking the first visit to the United States by state officials since the overthrow of Assad. However, it is unclear whether the Syrian delegation will meet with any U.S. officials.

The stringent American sanctions imposed during Assad's regime remain in place, and in January, the United States issued a six-month waiver from some sanctions to facilitate humanitarian aid, though the impact of this waiver has been limited.

Last month, Washington presented a list of conditions that Syria must fulfill in exchange for partial sanctions relief; however, the administration of President Donald Trump did not engage significantly with the new rulers in Syria.

This approach is partly attributed to differences within Washington regarding how to deal with Syria, with some stakeholders in the White House favoring a tougher stance, citing potential links of the new Syrian leadership to al-Qaeda as justification for maintaining communication within narrow limits, as reported by American diplomatic sources.

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