After receiving financial backing from Saudi Arabia and Qatar to clear over $15 million in debts, Syria is set to resume operations with the World Bank for the first time in fourteen years. This move signifies renewed international engagement, allowing the World Bank to pursue development projects focused on critical services such as electricity. Coinciding with a shift in U.S. policy that includes lifting sanctions, this represents a pivotal moment for Syria as it embarks on a path to recovery and strengthened relationships on the global stage.
The clearance of Syria's arrears will allow the World Bank Group to reengage with the country and address the development needs of the Syrian people.
After years of conflict, Syria is on a path to recovery and development, marking the beginning of expanded support aimed at stabilising Syria and boosting long-term growth.
The bank is preparing its first project in Syria, focusing on improving electricity access, a vital pillar for revitalising essential services like healthcare, education, and water supply.
This announcement coincides with a shift in US policy towards Syria, with President Trump indicating the beginning of lifting sanctions, marking a historic breakthrough.
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