Riyadh - Damascus: Agencies
Saudi Arabia plans to repay Syria's debt to the World Bank, a move that, if implemented, would allow Damascus to lift restrictions on grants and inject millions of dollars into the cash-starved market, according to a Reuters report. This statement comes after the first visit of interim President Ahmed al-Sharaa to the United Arab Emirates, a move some say has "reassured Riyadh" regarding the performance of the new Damascus governor. According to the Brussels-based Euronews website, the statement added, "After the fall of Bashar al-Assad's regime, Syria entered a new phase in which it appears to be closer to the Gulf states. This was evident in al-Sharaa's diplomatic moves, who preferred Riyadh to be his first foreign destination after assuming power, or in talk of various Gulf initiatives to help the country recover.
Previously, Qatar sought to finance an initiative that would increase public sector wages, and last month it announced plans to supply Syria with gas via Jordan, a move for which it received "tacit approval from Washington," according to the same agency.
Discussion of the Saudi initiative remains unofficial at the moment. Reuters quoted a Saudi Finance Ministry spokesman as saying that news of debt repayment is "speculation," adding, "We will make announcements when they become official."
This news comes after a technical delegation from the World Bank met with Syrian Finance Minister Mohammad Yusr Barniyeh on Monday, the first meeting of its kind since The fall of the Assad regime.
According to Reuters, the two sides discussed the funding needed to repair Syria's electricity grid and increase public sector salaries.
In a related development, informed sources added that Damascus will send a high-level delegation to Washington to attend the annual spring meetings of the World Bank and the International Monetary Fund later this month. This will be the first visit by the new rulers of Damascus to the United States.