ERBIL, Kurdistan Region of Iraq - The World Bank on Friday announced that Saudi Arabia and Qatar have paid off Syria’s arrears, stating that the country is now eligible for “new operations” after a 14-year pause.

“Effective May 12, 2025, the arrears of approximately $15.5 million due to the International Development Association (IDA) by the Syrian Arab Republic have been cleared,” read a statement from the Washington-based financial institution.

“Consequently, the country’s eligibility for new operations has been reinstated, subject to compliance with applicable World Bank operational policies,” The World Bank statement added.

In 2011, The World Bank paused its operations in Syria in the wake of the country’s civil war, preventing Damascus from accessing development loans, grants, and technical expertise.

The announcement comes days after US President Donald Trump announced from Riyadh that he has ordered the cessation of sanctions on Syria “in order to give them a chance at greatness.”

Since the fall of Assad in December, the interim Syrian government in Damascus has been repeatedly calling on the international community, notably the US and European countries, to lift sanctions imposed on the former Assad regime so the country could begin rebuilding across all walks of life and pave the way for the return of millions of Syrians who have sought asylum in neighboring and European countries.