Saudi Arabia, Qatar to pay back Syria’s debt to World Bank

Saudi Arabia and Qatar said Sunday they will pay Syria’s outstanding debt to the World Bank, a move likely to make the international institution resume its support to the war-torn country, Report informs via AP.

A joint statement by the finance ministries of Saudi and Qatar said the decision to pay Syria’s nearly $15 million debt to the World Bank was made during this month’s meetings in Washington by the World Bank and IMF.

Syria’s Foreign Ministry thanked the two oil and gas-rich nations for paying the debt saying it opens the way for activating cooperation toward recovery and reconstruction after a 14-year conflict that killed half a million people and caused wide destruction in the country.

Since the fall of Bashar Assad’s government in early December, when insurgent groups led by the Islamist Hayat Tahrir al-Sham stormed his seat of power in Damascus, Saudi Arabia and Qatar have been main backers of the country’s new leadership.