World Bank in talks with dozens of nations over impacts of Iranian war

World Bank President Ajay Banga stated on Sunday that the international institution is holding discussions with 30 to 40 nations to provide financial assistance, helping them counter energy strains and surging prices triggered by the war in Iran. Speaking to Western media outlets, Banga explained that the bank has already made available an initial crisis financing package worth 25 billion dollars, alongside an additional 35 billion dollars that could be unlocked through repurposing resources from approved projects. He highlighted that mounting pressures stemming from higher fertilizer and diesel costs might push further countries to seek financial backing over the coming months. Furthermore, Banga emphasized that the World Bank could expand available funding up to 100 billion dollars should the crisis escalate, exceeding the roughly 70 billion dollars distributed during the COVID-19 pandemic.