The World Bank has announced plans to provide up to $100 billion in support for developing countries should the war involving Iran, United States, and Israel, as well as the economic fallout from the conflict, persist.
In its latest ‘Global Economic Prospects’ report on Thursday, the World Bank said between $50 billion and $60 billion is immediately available through existing financing instruments, including $25 billion in pre-arranged funding, to ease the impact of the Middle East conflict.
“If the conflict and its economic fallout persist, the World Bank Group can scale up its support to $80–100 billion over 15 months,” the report said.
Also, Ajay Banga, president of the World Bank Group, said developing countries have faced a series of challenges over the last decade.
“The impact differs by country, but the basic test is the same: protect people and preserve stability today, without giving
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