World Bank Supports Nations Amid Middle East Conflict
ISTANBUL – The World Bank Group announced on Thursday that it is actively assisting governments and private sectors affected by the ongoing Middle East conflict. Disruptions in shipping routes and rising costs are putting pressure on emerging markets, prompting the organization to take swift action.
The World Bank is closely tracking global market changes and maintaining direct communication with the most affected countries to assess conditions on the ground.
Rising Costs and Supply Risks
The conflict has caused risks to spread beyond energy into fertilizers and other key agricultural inputs. Between February and March, crude oil prices surged by nearly 40%. Meanwhile, liquefied natural gas shipments to Asia rose by almost two-thirds, and nitrogen-based fertilizer prices climbed nearly 50% in March.
Immediate Relief and Support Measures
The World Bank is prepared to provide large-scale assistance by combining immediate financial aid with policy guidance and private sector support to restore jobs and economic growth.
The group plans to deliver relief using its active portfolio, crisis response tools, and pre-arranged financing facilities for governments, businesses, and households. Additionally, through its private sector arms, the World Bank will ensure firms have access to essential liquidity, trade finance, and working capital to help stabilize recovery.
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