World Bank says Saudi Arabia and Qatar have paid off Syria’s outstanding debt
The World Bank said Friday that the $15.5 million Syria owed it has been paid off by Saudi Arabia and Qatar, clearing Damascus to take out new loans.
The debt was owed to the World Bank’s International Development Association, a fund that provides zero- or low-interest loans and grants to the world’s poorest countries.
“We are pleased that 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,” the World Bank said in a statement.
In added that “the first project in our reengagement with Syria is centered on access to electricity.”
The debt was owed to the World Bank’s International Development Association, a fund that provides zero- or low-interest loans and grants to the world’s poorest countries.
“We are pleased that 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,” the World Bank said in a statement.
In added that “the first project in our reengagement with Syria is centered on access to electricity.”
