ISLAMABAD: Growing tensions between Iran and the United States are having a widening impact on the global economy, prompting 27 countries to seek financial assistance from the World Bank.
According to a British news agency report, these 27 countries are among 101 nations that have access—under certain conditions—to the World Bank’s emergency financing programs. The countries have reportedly requested support due to rising global economic pressure, increasing oil prices, and disruptions in trade.
However, the report did not disclose the names of the countries involved, nor the total amount of funding requested. The World Bank has not yet issued an official response to the report.
World Bank President Ajay Banga had previously stated that the institution has the capacity to provide around $20 to $25 billion in financing to help countries cope with global uncertainty and economic shocks.
Experts say that escalating tensions in the Middle East are increasing pressure on the global economy, with oil price volatility, trade disruptions, and reduced investment creating serious challenges for developing nations.
