Saudi and Katari’s efforts are aimed at stabilizing Syria by funding public sector salaries and promoting economic recovery plans.
Saudi Arabian Foreign Minister Faisal Bin Farhan Al Saud said the Kingdom and Qatar will provide joint financial support to Syrian state employees.
His remarks were made at a joint press conference in Damascus with his Syrian counterpart Asaad al-Shibani on Saturday.
Two countries are one of the most important regional supporters of the new Syrian authorities, and in December he removed long-time ruler Bashar al-Assad in December after nearly 14 years of the war.
Saturday's statement did not provide details on the exact amount of Syria's public sector support. But it was at the moment when Syria's Finance Minister Mohammed Yosr Bernieh said in early May that Qatar would provide Syria with $29 million in the first three months to pay the salary of civilian public sector workers.
Reuters News Agency also reported that the United States has blessed the Katari Initiative, which took place a few days after President Donald Trump announced that it would lift Syrian sanctions imposed on the Assad regime. Since then, the EU has also lifted sanctions on Syria.
Further evidence of Saudi Arabia and Katari's support was announced in mid-May that the two countries had repaid Syria's debt to the World Bank, which was about $15 million.
Syria's new government is led by interim President Ahmed Al-Sharaa, who is trying to rebuild the country's diplomatic ties and convince Western countries that he has shunned groups such as Al-Qaeda.
Syrian leaders have repeatedly rejected extremism and expressed support for ethnic minorities, but the violence has killed hundreds of people continues to cause international fear, even as the government and Al-Sharaa condemn the killings.
Syria's new government has also worked together to consolidate ties with the Arab Gulf countries, who have begun to play a key role in funding the reconstruction of the infrastructure of the Syrian war and restoring its economy.
On Tuesday, the EU announced that in addition to legal restrictions on security reasons, legal actions have been taken to eliminate all economic restrictions on Syria. It also removed 24 entities from the EU list, which were released by funds and economic resources, including the Syrian Central Bank.
The U.S.-based financial institution said it would restart operations in the country after 14 years of pause after Saudi Arabia and Qatar cleared Syria’s debt to the World Bank.
The World Bank has begun preparing its first project in Syria, which will focus on improving electricity tolls – a key pillar for revitalizing essential services such as healthcare, education and water supply. This also marks the beginning of expanding support to stabilize Syria and promote long-term growth.
Syria’s gradual reintegration into the global economy is largely due to Trump’s huge shift in Washington’s policy toward the country. After announcing the lifting of U.S. sanctions on May 13, Trump has also become the first U.S. president to meet with his Syrian counterparts in 25 years.
The United States has seized a $10 million reward for occupying al-Sharaa, and the Syrian president is able to travel internationally and meet with world leaders, including Saudi Arabia and France.
However, there is still a lot to do. A February report from the United Nations Development Program (UNDP) estimated that at current growth rates, it would take more than 50 years for Syria to recover its pre-war economy and called for substantial investment to accelerate the process.
Nine out of 10 Syrians now live in poverty, a quarter of them are unemployed and Syria’s GDP “shrinks to less than half of its value”, the year the war began, according to UNDP research.