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Saudi Arabia and Qatar have announced that they will settle Syria’s debt to the World Bank totalling roughly $15m, according to a statement published by the Saudi Press Agency, in the latest effort to help reverse the economic fortunes of a nation beset by years of war, Aljazeera reported.

Both Gulf states have played a key role in the diplomatic outreach to Syria’s new interim government since the ouster of longtime leader President Bashar al-Assad in December.

“The ministries of finance in the kingdom of Saudi Arabia and the state of Qatar jointly announce their commitment to settle Syria’s outstanding arrears to the World Bank Group, totalling around $15 million,” the statement said on Sunday.

It came just days after Syria’s central bank governor and finance minister attended the International Monetary Fund and World Bank spring meetings for the first time in more than 20 years, according to Aljazeera.

The World Bank had suspended operations in Syria after the start of the war, which began with a bloody crackdown on pro-democracy protests during the Arab Spring in 2011. The settlement of the country’s arrears will enable it to resume accessing the bank’s financial support and technical advice.

Minister for Foreign Affairs Arzu Rana Deuba has said that Nepal is always against terrorism and strongly condemns terrorism in any manifestation. Addressing a gathering organized by the Indian Embassy in Nepal to pay tributes to those who lost their lives in the terrorist attack in Pahalgam, Kashmir, India, she made it clear that Nepal is always against terrorism and in favor of peace. “Nepal strongly condemns all forms and manifestations of terrorism. Nepal always stands against terrorist activities carried out anywhere, anytime and for any purpose,” she said.

Stating that double standards should never be adopted while dealing with terrorism, she clarified that Nepal is firmly committed to ensuring that its territory is not used by any terrorist group for any reason and against any country and people. Therefore, Minister Rana said that Nepal has also strongly condemned in strongest possible terms the terrorist attack that took place in Pahalgam, Kashmir.

She also said that Nepal stands by the people and the government of India at this hour of sorrow and stands shoulder to shoulder with India in the fight against terrorism. Recalling the deep ties between Nepal and India, Minister Rana said that this relationship is not only a matter of diplomacy but also a matter of shared history, culture and cooperation for centuries. “Our open borders are a symbol of trust in each other and our family ties also bind us. We have always stood together in times of happiness or crisis. When the earthquake devastated Nepal, India was the first to extend a helping hand,” she said.

Minister Rana also thanked the Government of India for helping to repatriate the mortal remains of Nepali youth Sudip Neupane, a victim of the Pahalgam tragedy, and other affected people to Nepal. On the occasion, she paid tributes to those who lost their lives in the terrorist attack and extended condolences to the bereaved families. 

US Senator Jeanne Shaheen of the US Senate Foreign Relations Committee has opposed the Department of Government Efficiency’s effort to dismantle the Millennium Challenge Corporation (MCC). 

Issuing a press statement, he said that since its establishment under President George W Bush over 20 years ago, the MCC has a proven track record of delivering economically transformative, transparent and accountable returns on foreign assistance through its projects, helping partner countries such as Kosovo and Senegal strengthen their democratic institutions and reduce their dependency on aid in the long-term. “The Millennium Challenge Corporation is a bipartisan, independent government agency established in law by Congress to reduce global poverty through economic growth,” he said.  

Just last year, Congress passed, and President Biden signed into law, a bipartisan bill that expands MCC’s pool of eligible candidate countries. MCC is a necessary tool to counter China’s Belt and Road Initiative and dismantling it will open the door for the PRC to further exploit and capitalize on America’s retreat, as it has with Nepal, he said.  “This destructive dismantling of MCC does nothing to make America stronger; it only harms our economic and national security interests.”

Meanwhile, for the current fiscal year, MCA-Nepal has a budget of Rs 13.36bn. Of this amount,
Rs 9.9bn would be funded by the MCC and the remaining Rs 3.45bn would be borne from internal sources.

However, after MCA-Nepal did not spend the budget, about 58 percent of the budget has been returned to the Ministry of Finance. Not only in the current fiscal year but also in the last fiscal year, MCA-Nepal’s expenditure was unsatisfactory. MCA-Nepal had spent only about 30 percent of the total budget for the last fiscal year and returned the remaining 70 percent of the budget.

The government had allocated Rs 10.84bn for the last fiscal year to spend on projects under MCA-Nepal, out of which Rs 7.60bn was returned. The budget could not be spent as per the target as the compensation distribution and acquisition of land required for the construction of the power transmission line has slowed down. 

MCA-Nepal is among the agencies returning the highest amounts under capital expenditures.

US President Donald Trump has said he thinks his Ukrainian counterpart Volodymyr Zelensky is willing to give up Crimea to Russia as part of a peace deal - despite Kyiv's previous rejections of any such proposal, BBC reported.

Asked if he thought the Ukrainian president was ready to cede control of its southern peninsula, which was illegally annexed by Russia in 2014, Trump replied: "I think so."

Trump also urged Russian President Vladimir Putin to "stop shooting, sit down and sign a deal" to end the fighting, suggesting this could be achieved within two weeks. 

He made the comments to reporters after returning from the Vatican, where he held a brief meeting with Zelensky before Pope Francis' funeral, according to BBC.