Syria Regains World Bank Eligibility as Financial Barriers Fall
(MENAFN) Syria has regained its eligibility for World Bank funding after Saudi Arabia and Qatar settled the nation's $15.5 million debt to the institution, the bank announced on Friday.
The outstanding payments, owed to the International Development Association (IDA), the World Bank's fund dedicated to the world's most impoverished nations, were cleared as of May 12, according to a bank statement. This reinstatement now allows Syria to potentially access new financial assistance.
The World Bank stated, "As of May 12, 2025, there are no remaining outstanding balances on IDA credits to the Syrian Arab Republic." The bank also noted that any future involvement with Syria would be "subject to compliance with applicable World Bank operational policies."
This development follows U.S. President Donald Trump's declaration on Tuesday at the 2025 Saudi-U.S. Investment Forum in Riyadh that he would order the lifting of "brutal and crippling" U.S. sanctions on Syria, which were implemented prior to the collapse of the Assad regime.
A day after this announcement, Trump met with Syrian President Ahmed al-Sharaa in Saudi Arabia, marking the first encounter between the leaders of the two countries in a quarter of a century.
Bashar Assad, who led Syria for almost 25 years, fled to Russia on December 8, 2024, bringing an end to the Baath Party regime that had held power since 1963. Al-Sharaa, who spearheaded the anti-regime forces that ousted Assad, was declared president for a transitional period in late January.
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