Saudi Arabia intends to pay off Syria’s World Bank debt, therefore opening the path for the approval of millions of dollars in grants for reconstruction and to assist the crippled public sector.
Since religious-led rebels overthrown former leader Bashar al-Assad last year, the hitherto unreported proposals would be the first known instance of Saudi Arabia funding Syria.
It could also be an indication that, following past plans including an effort by Doha to pay salaries, uncertainty over US sanctions is causing vital Gulf Arab support for Syria to start to materialize to be held off.
Sources said received Washington’s mark of consent when Qatar announced last month a scheme to supply Syria with gas via Jordan, therefore improving the meager energy supply in the country.
We do now no longer touch upon speculation, however make announcements, if and after they grow to be official,” a consultant of the Saudi Ministry of Finance said.
Before the World Bank may authorize grants and offer other types of aid, Syria has approximately $15 million in arrears to pay off.
Two persons familiar with the situation claim, however, Damascus lacks foreign cash and a past scheme to pay off the debts using assets frozen outside did not come to pass.
