World Bank in talks with dozens of countries about crisis aid, Banga says
Ajay Banga said the Bank may offer up to $100 billion if conditions worsen, as countries seek help with energy shocks and rising prices.
- World Bank President Ajay Banga said the Bank is in discussions with 30 to 40 countries about potential crisis aid to help manage energy shocks and price increases triggered by the Middle East war.
- The war in the Middle East, which began in late February, triggered spikes in diesel and fertilizer prices, exacerbating fiscal challenges for developing countries already weakened by high interest rates and pandemic-era financial strains.
- Few countries have sought the initial $25 billion in crisis funds as the global economy proved resilient, though Banga noted the Bank could mobilize up to $100 billion if conditions worsen.
- Nations prefer retooling existing projects over tapping immediate crisis financing, with the Bank advancing 14 or 15 debt-for-development swaps and guarantees to help countries refinance higher-priced debt.
- Developing countries owe external creditors about $400 billion in 2026, with interest payments comprising one-third of the total. The Bank and International Monetary Fund are collaborating on initiatives to address debt levels and boost domestic revenues.
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World Bank President Ajay Banja announced that the Foundation was holding talks with some 40 countries on possible support to help them cope with crises.
World Bank in talks with dozens of countries about crisis aid, Banga says
The World Bank is in discussions with 30 to 40 countries about potential crisis aid to help them manage energy shocks and price increases triggered by the war in the Middle East, its president, Ajay Banga, told Reuters in an interview.
World Bank in talks with 30-40 countries on crisis relief The World <p>Bank is discussing crisis financing with 30-40 countries due to energy shocks and rising prices. The bank is ready to attract up to $100 billion</p>
World Bank in talks with 30-40 countries over aid to tackle Middle East energy shock
The World Bank is in talks with numerous countries to address energy price increases stemming from the Middle East crisis. While the global economy remains resilient, developing nations face growing challenges from rising diesel and fertilizer prices. The Bank anticipates more countries may access crisis funds as conditions worsen in the coming months. Recent private capital investments have surged considerably, especially in upper-middle-income…
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