If this news is confirmed, the payment of $15 million by Saudi Arabia would make Syria eligible for up to $1 billion in World Bank funding. Possibly even on grant terms (non-repayable) depending on the debt sustainability analysis.
Ansgar Münichsdorfer
Saudi Arabia is set to pay Syria's $15 million debt to the World Bank. This payment will allow the approval of multimillion-dollar grants for Syria's reconstruction, which were previously blocked due to unfulfilled financial obligations to international institutions.
www.reuters.com
Saudi Arabia plans to pay off Syria's debts to the World Bank, three people familiar with the matter said, paving the way for the approval of millions of dollars in grants for reconstruction and to support the country's paralysed public sector.
