• The World Bank cleared Syria’s $15.5 million debt, allowing eligibility for new loans and grants.
• Saudi Arabia and Qatar provided payments to settle Syria's arrears with the World Bank.
• The U.S. announced plans to lift sanctions on Syria to support its economic recovery.
• Syria's first World Bank project will focus on improving access to electricity.
• This marks a significant shift in Syria's diplomatic and financial relations after years of isolation.

The World Bank has announced that Syria is now eligible for new loans after successfully clearing its outstanding debt of $15.5 million, thanks to payments made by Saudi Arabia and Qatar. This development enables Syria to apply for grants to support its reconstruction efforts and address the pressing needs of its citizens, according to trtglobal and nytimes.

The recent clearance of Syria's arrears is particularly significant as it comes in tandem with an announcement from U.S. President Donald Trump regarding the lifting of sanctions on the nation, which has struggled to stabilize after 14 years of civil war. The decision from the U.S. government and the actions of the Gulf states signify a marked shift in international engagement with Syria, as noted by aljazeera and nytimes.

The World Bank has expressed its intent to re-engage with Syria, facilitating support that aims to help mend the country's economy and improve living conditions. The first project is focused on expanding access to electricity, which will support essential services like healthcare, education, and water supplies. This initial effort lays the foundation for further financial assistance aimed at fostering Syria's long-term development, as detailed by trtglobal and aljazeera.

The Gulf states’ initiative to settle Syria's debt marks an important step in the country’s reintegration into the global economy, which has been hampered by years of isolation and conflicts. This financial relief is expected to enhance foreign investor confidence, as evidenced by Syria's recent signing of an $800-million agreement with a Dubai-based port operator to develop the strategic port of Tartus, indicating a shift towards potential economic recovery and growth, according to aljazeera and nytimes.