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CAIRO (Reuters) - Saudi Arabia and Qatar are to settle Syria's outstanding arrears of around $15 million to the World Bank, both countries said in a joint statement, paving the way for the approval of millions of dollars in grants for reconstruction and to support the country's paralysed public sector.

Reuters was first to report the news earlier this month. The plans would be the first known instance of Saudi Arabia providing financing for Syria since Islamist-led rebels toppled former leader Bashar al-Assad last year.