The World Bank announced on Friday the settlement of Syria's arrears to the International Development Association (IDA), the World Bank Group's financing arm for the poorest countries, re-establishing Syria's eligibility for financing and financial assistance.
In a statement posted on its official website, the bank said that the arrears amounted to $15.5 million and were settled on May 13, 2025, by the Kingdom of Saudi Arabia and the State of Qatar.
The statement explained that the settlement of these arrears restores Syria's eligibility for new IDA financing, "subject to compliance with the World Bank's operational policies."
The statement added: "As of May 12, 2025, there are no longer any remaining balances in IDA credits for Syria."
This step represents a significant economic development, especially since it came after US President Donald Trump announced the lifting of sanctions on Syria, which had hindered the country's access to international financing sources.
The International Development Association (IDA) provides interest-free or low-interest loans and grants to finance development projects aimed at promoting economic growth, building resilience, and improving the lives of the poor. These are mechanisms that Syria hopes to benefit from in the post-war period.
This step signals Syria's gradual return to the international financial system, with clear support from effective regional partners, and within a broader framework for reconstruction and national economic recovery.
Comments About This Article
Please fill the fields below.