The World Bank says it is ready to deploy up to $100 billion in support for developing countries as the escalating Middle East crisis threatens to derail global economic growth.
According to a report by Punch, the lender has already made between $50 billion and $60 billion available and could increase support if the conflict drags on. The funds are aimed at helping governments cushion the impact of rising energy prices, inflation and tighter financial conditions.
The bank warned that global growth could slow to 2.5 per cent in 2026, the weakest pace since the COVID-19 era, while inflation is expected to rise as higher oil and fertiliser prices ripple across economies.
World Bank President Ajay Banga said the priority is to protect vulnerable populations while preserving long-term growth and jobs.
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