The World Bank could mobilize up to $100 billion for countries in the Middle East
The World Bank may allocate between $80 billion and $100 billion to countries that have been severely affected by the war in the Middle East. According to bank officials, these funds could be mobilized over the course of approximately fifteen months.
This was stated by World Bank President Ajay Banga, according to The Guardian.
He said the funding would come from several sources. Countries could receive between $20 billion and $25 billion through the so-called crisis response window, which accounts for about 10 percent of the total amount. An additional $30 billion to $40 billion is planned to be provided by repurposing existing programs.
At the same time, Banga noted that if the war continues, the bank will likely have to use its balance sheet and reserves to reach a total funding amount of between $80 billion and $100 billion. He made these remarks during an event organized by the Bretton Woods Committee.
The publication also notes that the International Monetary Fund previously warned that further escalation of the conflict in Iran could trigger a global recession.
Among the Middle Eastern countries already drawn into the war are Kuwait, Bahrain, the United Arab Emirates, Saudi Arabia, and Jordan.
It is also reported that Iran is striking U.S. targets in the region, accusing certain countries of providing the United States with opportunities to launch attacks against Tehran.
Earlier, French President Emmanuel Macron announced that he had held talks with his American and Iranian counterparts regarding the situation in the Middle East.
Macron announced a gathering of countries for a mission in the Strait of Hormuz.
Macron discussed the war in Ukraine and the Middle East with Erdogan
Macron announced the release of two French nationals after three years in prison in Iran.
Donald Trump’s new statements on Iran are becoming increasingly harsh. An expert from Tehran believes this indicates growing tension and frustration on the part of the U.S. president.
Israel struck approximately ten key sections of railways and bridges in Iran. According to sources, these routes were used to transport weapons.
