According to an internal document seen by Reuters, twenty-seven nations have taken steps since the start of the Iran war to establish crisis instruments that might swiftly obtain funds from current World Bank programs.
The nations and the overall amount of money that might be sought were not mentioned in the World Bank document. The World Bank declined to comment.
According to an internal document seen by Reuters, twenty-seven nations have taken steps since the start of the Iran war to establish crisis instruments that might swiftly obtain funds from current World Bank programs.
The nations and the overall amount of money that might be sought were not mentioned in the World Bank document. The World Bank declined to comment.Global supply chains have been impacted by the conflict and the ensuing disruption of the world's energy markets, which has stopped essential fertiliser shipments from getting to underdeveloped nations.
Kenyan and Iraqi officials have acknowledged that they are looking for quick financial assistance from the World Bank to deal with the aftermath of the conflict, which includes a sharp decline in Iraq's oil earnings and the impact of rising fuel prices on the African country.
The Rapid Response Option, which permits nations to use up to 10% of their undisbursed funds, was signed by 54 of the 101 nations that have access to some kind of pre-arranged financing mechanism that they could use in a crisis.

Last month, World Bank President Ajay Banga stated that the bank's crisis toolbox will enable nations to access an estimated $20 billion to $25 billion through pre-arranged contingency financing, current project balances, and fast-disbursing instruments.
According to him, the bank might also realign some of its holdings to raise the total to $60 billion during a six-month period. Longer-term adjustments could raise the amount to almost $100 billion.
Kristalina Georgieva, the chief of the International Monetary Fund, stated at the time that she anticipated up to a dozen nations requesting $20 billion to $50 billion in short-term aid from the international lender. However, according to three people with knowledge of the situation, not many requests have been recorded.

According to Kevin Gallagher, director of Boston University's Global Development Policy Center, nations are more inclined to look for World Bank funding than engage in negotiations with the IMF because IMF programs typically call for austerity measures that could exacerbate the social unrest already present in nations like Kenya.