Saudi Arabia, Qatar Pay Syria's Debt to World Bank

(MENAFN) Saudi Arabia and Qatar announced on Sunday their agreement to settle Syria's USD15 million debt to the World Bank.

In a unified statement, both nations emphasized that addressing Syria's outstanding arrears would aid in the country's recovery after years of conflict.

The statement highlighted that clearing these financial obligations would grant Syria access to much-needed financial assistance in the short term, enabling the development of essential sectors.

Additionally, it would facilitate technical support aimed at strengthening institutions, enhancing capacity, and assisting in policy development and reform to foster sustainable growth.

Both countries urged international and regional financial bodies to "quickly resume and expand their development work in Syria, combine their efforts, and support everything that would achieve the aspirations of the brotherly Syrian people for a promising future."

The Syrian Foreign Ministry, in its statement, expressed gratitude, noting, "Damascus extends deep thanks and appreciation to both Qatar and the Kingdom of Saudi Arabia for their generous brotherly initiative to announce the settlement of Syria’s financial arrears to the World Bank, which amounted to USD15 million."

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