Description: Officials from the Saudi Arabian government have outlined a plan to eliminate Syria’s debt to the World Bank and potentially unlock grants from the institution for the reconstruction of the country. The debt which amounted to $15 million needs to be paid in order for Syria to be eligible to receive any kind of financial support and assistance, both from the IMF (International Monetary Fund) and the World Bank for infrastructure reconstruction projects, salaries of public officials and the revival of the country’s oil industry. US and EU imposed sanctions on the country remained as the current regime’s former ties to Al – Qaeda sparks distrust in its ability to govern the country on the right path. The EU had briefly lifted the sanctions but then the regime started killing and persecuting minority communities which prompted the EU to reimpose the sanctions.
Impact: Various countries have raised their national interests in establishing soft or hard power influence within the war – thorn country. So far, Turkey and Israel have started directly holding talks regarding their respective red lines of interest in the country, while Qatar has offered to fuel Syria’s crippling energy sector with gas and oil from Jordan. Saudi Arabia’s offer comes at a time where the country is substantially struggling with conceptualizing a potential future governmental administration with dozens of militant fractions which have adopted polar opposite areas of interests regarding Syria. The country’s geostrategic positioning as well as lucrative oil fields which are yet to be additionally exploited could lead to direct or indirect confrontations alike the one between Turkey and Israel. Syria’s internal decadent state of affairs further aggravates the situation as multiple armed fractions are fighting for dominance over strategically important regions.