World Bank Reboots Syria Operations After 14-Year Freeze, Citing Path to Recovery
The decision comes after Saudi Arabia and Qatar jointly cleared Syria’s outstanding debt—estimated at $15.5 million—opening the door for Damascus to regain access to international development funding.
By Ahora Qadi
ERBIL (Kurdistan24) – In a landmark shift signaling Syria’s re-entry into the global financial system, the World Bank on Friday announced the resumption of its operations in the country, following a 14-year suspension prompted by the outbreak of civil war in 2011.
The decision comes after Saudi Arabia and Qatar jointly cleared Syria’s outstanding debt—estimated at $15.5 million—opening the door for Damascus to regain access to international development funding and technical assistance.
A Turning Point for Post-War Syria
"The country is now on a path to recovery and development," the World Bank said in a statement, confirming that its first project with the new Syrian government will focus on restoring and expanding access to electricity—one of Syria’s most pressing infrastructure needs.
The move follows sweeping regional and international developments since the ouster of Bashar al-Assad in late 2024. The new interim government in Damascus, led by Ahmad al-Sharaa, has rapidly secured diplomatic openings with the United States, the European Union, and Gulf states.
Financial Support to Bolster Stability
The World Bank emphasized that its renewed engagement is part of a broader initiative to stabilize Syria and foster sustainable development. “This is the first step in a planned increase in World Bank Group support designed to confront Syria’s urgent needs and invest in long-term development,” the statement read. “This will help to stabilize the country and the region.”
US President Donald Trump announced earlier this week that Washington would lift all sanctions on Syria, describing the move as a bold opportunity to unlock the country’s potential. “Syria deserves a chance at greatness,” Trump said.
Strategic Implications
The US Treasury Department echoed the White House's view, stating that lifting sanctions would “help rebuild Syria's economy, financial sector, and infrastructure,” and could set the nation “on a path to a bright, prosperous, and stable future.”
The World Bank’s decision is being closely watched across the region, particularly as international stakeholders begin to re-engage with Syria’s interim authorities. Observers view this step as part of a larger process of normalizing Syria’s global standing, attracting foreign investment, and facilitating post-conflict reconstruction.
For the Syrian people—long battered by war, displacement, and economic collapse—Friday’s announcement offers a measure of hope. The return of World Bank operations may not resolve all of Syria’s challenges overnight, but it signals a pivotal departure from years of isolation and decline.
