Twenty-Seven Countries Line Up for World Bank Crisis Funds

Twenty-seven countries have taken steps since the start of the Iran conflict to put in place crisis instruments that would allow them to quickly access financing from existing World Bank programs, according to an internal document seen by Reuters.

The document does not identify the countries concerned or the total amount of funds potentially being sought. It shows that since the conflict began on 28 February, three countries have already approved new instruments while others are still completing the process.

The World Bank declined to comment on the document.

The conflict has disrupted global energy markets and supply chains, leaving several developing countries facing shortages of fuel or fertiliser.

Officials in Kenya are calling for rapid financial support from the World Bank to address rising fuel prices. Iraq, meanwhile, is reporting difficulties following a sharp drop in revenues from oil exports through the Gulf.

(reuters, sak)