World Bank announces Syria debt settlement, eligible for new programs and reconstruction grants – Syrian Arab News Agency

Washington, SANA-The World Bank announced that it has settled Syria’s $15.5 million debt, making it eligible for new programs and millions of dollars in reconstruction grants.

Reuters quoted the bank as saying in a statement that payments from Saudi Arabia and Qatar were used to repay Syria’s arrears, noting that this makes it eligible for new programs and millions of dollars in reconstruction and budget support grants.

The World Bank announced that as of May 12, Syria had no outstanding balances with the International Development Association (IDA), the bank’s fund for the poorest countries.

On April 27, Saudi Arabia and Qatar announced that they would repay Syria’s arrears to the IDA.

MHD Ibrahim

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