Chicago – April 14, 2025
Saudi Arabia plans to pay off Syria’s debts to the World Bank, which could lead to millions of dollars in grants for rebuilding the country and supporting its struggling public sector, according to three sources familiar with the situation. This would be the first time Saudi Arabia has provided financial help to Syria since Islamist-led rebels overthrew former president Bashar al-Assad last year.
This move might signal that support from Gulf Arab countries for Syria is starting to happen. Previous plans, like Qatar’s attempt to fund salaries, were delayed because of concerns over U.S. sanctions. However, last month, Qatar announced it would provide gas to Syria through Jordan to help with the country’s power supply, and sources said the U.S. approved this plan.
A spokesperson for the Saudi Ministry of Finance said the government does not comment on speculation but will make announcements when official decisions are made. The Saudi government, the World Bank, and Syria’s government did not immediately respond to requests for comment.
Syria owes around $15 million to the World Bank, and the debts must be paid before the bank can approve financial help for the country. However, Syria does not have enough foreign currency, and a previous plan to use frozen assets to pay the debts did not work out, according to sources.
World Bank officials are discussing providing funds to help rebuild Syria’s power grid, which has been badly damaged by years of war, and also to support the public sector. A World Bank delegation recently met with Syria’s Finance Minister to discuss strengthening economic ties. This was the first public meeting between the Syrian government and the World Bank.
