The World Bank confirms that Saudi Arabia and Qatar have paid off Syria's outstanding debt

The World Bank announced Friday that Saudi Arabia and Qatar have paid off Syria’s $15.5 million debt, making Damascus eligible to apply for new funding.

Last month, both Gulf nations pledged to settle Syria’s outstanding dues — a move the Syrian government welcomed as a critical step toward rebuilding the country after a 14-year war that claimed roughly 500,000 lives and devastated its infrastructure.

The debt was owed to the International Development Association (IDA), the World Bank’s branch for the world’s poorest nations, which offers loans at little or no interest as well as grants.

“We are pleased that the clearance of Syria’s arrears will allow the World Bank Group to reengage with the country and address the development needs of the Syrian people,” the Bank said in a statement.

It also noted that its first initiative following the reengagement will focus on improving access to electricity.

Even after a swift insurgency toppled former Syrian President Bashar Assad and brought an end to the civil war, the country continues to face severe electricity shortages.

According to United Nations estimates, 90% of Syrians now live in poverty, and most only receive about two hours of electricity from the state each day. The high cost of private generator access and solar panels makes them unaffordable for many.

In March, Qatar began supplying Syria with natural gas via Jordan in an effort to reduce the long daily blackouts.

Still, longstanding Western sanctions, imposed during the Assad era, remain a major hurdle to reconstruction and development efforts.

During a recent regional tour that included talks with Syrian President Ahmad al-Sharaa in Saudi Arabia, U.S. President Donald Trump said he plans to lift the sanctions, which could unlock new investment opportunities in Syria.