A joint statement by the two countries' finance ministries, reported by the official Saudi Press Agency (SPA) on Sunday, read : "The finance ministries of the Kingdom (Saudi Arabia) and Qatar announced the payment of Syria's arrears to the World Bank Group, amounting to approximately $15 million."
The statement explained that the repayment comes "as a continuation of the efforts of Saudi Arabia and the State of Qatar to support and accelerate the economic recovery of the sisterly Syrian Arab Republic, and in light of what was discussed during the roundtable meeting on Syria on the sidelines of the Spring Meetings of the World Bank Group and the International Monetary Fund."
He pointed out that repaying the arrears "will enable the World Bank Group to resume its support to Syria, after a hiatus of more than fourteen years. It will also allow Syria to receive World Bank allocations in the near future to support urgent sectors, in addition to technical support, which will in turn contribute to rebuilding institutions, developing capacities, and reforming policies to accelerate the pace of development," according to the joint statement.
In the statement, Saudi Arabia and Qatar called on international and regional financial institutions to quickly resume and expand their development work in Syria, and to combine their efforts and support everything that would achieve the aspirations of the brotherly Syrian people for a promising future.
On Thursday, International Monetary Fund Managing Director Kristalina Georgieva said their goal is to help Syria rebuild its institutions and thus integrate into the global economy.
Georgieva stated, in a press conference held during the spring meetings of the International Monetary Fund and the World Bank, that they held a meeting with Syria in the presence of the Syrian Central Bank Governor and Finance Minister "for the first time in more than 20 years."
The Syrian authorities are looking for international and regional support to help them address the repercussions of ousted President Bashar al-Assad's 24-year rule (2000-2024).
Since the regime's overthrow, the Syrian administration has been demanding the lifting of sanctions on Damascus, arguing that they "prevent the country's renaissance."
As a result of these efforts, the United States and the European Union partially eased their sanctions on several sectors in Syria, amid hopes of a complete lifting of these restrictions to achieve development in the country.
