Pakistan, May 17 -- On Friday, May 16, 2025, the World Bank confirmed that Saudi Arabia and Qatar have cleared Syria's outstanding debt of $15.5 million, allowing Damascus to access new loans. This payment follows the announcement last month by both countries that they would settle Syria's debt. The move has been hailed by Syria as a step towards recovery and reconstruction after 14 years of conflict.

The debt was initially borrowed from the World Bank's International Development Association (IDA), which provides loans and grants to the world's poorest countries at low or zero interest rates. The Syrian civil war, which has resulted in the deaths of half a million people and widespread devastation, has left the country in dire need of fi...