The plans have not been reported before and will be the first known instance of Saudi Arabia, which has provided financing for Syria since the rebels led by Islamists overthrew former leader Bashar al-Assad last year.
It may also indicate that the crucial Gulf Arab Gulf support for Syria began to come to fruition after previous initiatives to fund salary, including the Doha Initiative.
Last month, Qatar announced a plan to provide natural gas to Syria through Jordan to improve the meager power supply in the U.S., a move told Reuters that Washington had obtained approval.
“We don’t comment on speculation, but make announcements if they become official,” a spokesman for the Saudi Treasury Ministry told Reuters.
Saudi government media office, World Bank spokesperson and Syrian government officials did not immediately respond to requests for comment. Syria owes approximately $15 million to the World Bank and must be paid off before international financial institutions can approve grants and provide other forms of assistance. However, according to two people familiar with the matter, Damascus lacks foreign currencies and the previous plan to use a plan to freeze foreign assets to pay off debts has not been achieved.
World Bank officials have discussed providing financing to help rebuild the country’s power grid, which has been severely damaged by years of war and support public sector salaries, two sources said.
Reuters reported on Saturday that Syria will send a high-level delegation to Washington for the annual spring meeting of the World Bank and the International Monetary Fund later this month, marking the first visit to the United States by Syrian officials since Assad’s removal.
It is unclear whether the Syrian delegation will meet with any U.S. officials.
The strict U.S. sanctions imposed during Assad’s reign remain.
In January, the U.S. issued a six-month exemption for some sanctions that encourage humanitarian aid, but that was limited.
Last month, the United States provided Syria with a list of conditions that meet partial sanctions relief, but the administration of U.S. President Donald Trump would otherwise have little interaction with the country’s new rulers.
This is partly due to Washington’s different views on how to get close to Syria.
According to diplomats and U.S. sources, some White House officials have been keen to take a firmer stance, suggesting that the new Syrian leader’s previous ties to al-Qaeda is justified to minimize engagement.
