World Bank Reengages with Syria: Financial Clearance Paves Way for Reconstruction
The World Bank has cleared Syria's $15.5 million debt, thanks to payments from Saudi Arabia and Qatar, making Syria eligible for new grants. The decision follows the U.S. intent to lift sanctions. The World Bank plans initial projects, including improving electricity access to facilitate economic recovery and development.
The World Bank resolved Syria's outstanding $15.5 million debt, with help from Saudi Arabia and Qatar, enabling Syria to access new grants for reconstruction.
This debt clearance aligns with U.S. President Trump's announcement to lift Syrian sanctions, initiating a reengagement with Syria's development.
World Bank's initial projects will address essential infrastructure, starting with improving electricity access, a critical step towards Syria's economic and social recovery.
(With inputs from agencies.)
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