WEB DESK: As the devastating war between the United States and Iran continues to rattle global markets and supply chains, 27 countries have reportedly approached the World Bank for emergency financial assistance, citing severe economic difficulties triggered by the conflict.
According to a report by a British news agency, the 27 nations are among 101 countries that currently have access to some form of the World Bank’s emergency financial system. The document outlining the requests did not disclose the identities of the 27 countries, nor did it reveal the exact amount of funding each nation is seeking.
The development underscores the widening global economic impact of the US-Iran war, which has disrupted shipping routes through the Strait of Hormuz, spiked energy prices, and triggered food inflation in vulnerable economies. Many developing nations—particularly those reliant on imported grain or oil—have seen their fiscal positions deteriorate sharply since hostilities began.
Last month, World Bank President Ajay Banga acknowledged the growing strain on the global economy and announced that the institution would provide access to $20 to $25 billion in financing to various countries to help them cope with the ongoing economic crisis. It remains unclear whether the current requests from the 27 nations fall under that pledged amount or represent additional appeals.
