World Bank: First Project with Syrian Government Will Focus on Improving Electricity Services
ARK News.. The World Bank has announced that Saudi Arabia and Qatar have jointly cleared approximately $15.5 million in outstanding Syrian debt, paving the way for the Bank to resume its programs in the country after a 14-year hiatus.
In an official statement, the World Bank said: “Following years of conflict, Syria is now on a path toward recovery and development. Our first project with the new Syrian government will focus on improving electricity services.”
The statement added: “We are pleased that the clearance of Syria’s arrears enables the World Bank to re-engage in the country and respond to the development needs of the Syrian people.”
The Washington-based institution emphasized that its programs will contribute to “stabilizing the country and the broader region. There is an urgent need to create an environment that enables private sector investment, job creation, and economic growth to secure a better future for the Syrian people.”
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