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Development banks mobilize funding to cushion war impact

Summary by Inquirer
MANILA, Philippines — Seven multilateral development banks (MDB), including the World Bank (WB) and Asian Development Bank (ADB), on Monday pledged support for countries grappling with the economic fallout of the Middle East conflict, which has triggered a historic oil shock and stoked global inflation. In a joint statement, the banks said they were responding to

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Inquirer broke the news in Manila, Philippines (the) on Monday, May 18, 2026.
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