The clearance of Syria's arrears by Saudi Arabia and Qatar (and the lifting of sanctions) has already paid off: the World Bank just approved a non-repayable grant of $146 million for the rehabilitation of the Syrian electricity grid, including reconnecting it to the Jordanian and Turkish grids.
The World Bank Board of Executive Directors approved yesterday a US$146 million grant financing to Syria from the International Development Association (IDA) to help restore reliable, affordable elect...
www.worldbank.org
Ansgar Münichsdorfer
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.
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.
