The World Bank is discussing with 30-40 countries the provision of emergency financial assistance amid the energy crisis.

The World Bank is in talks with approximately 30–40 countries to provide forms of emergency financial assistance amid rising energy prices and other economic shocks caused by the war in the Middle East. The information was presented by the institution’s president, Ajay Banga, in an interview with Reuters.

According to him, the initiative targets states that could be affected by the economic consequences of the conflict, particularly through higher energy costs and additional pressure on national economies. Together with the authorities in those countries, the World Bank is assessing urgent financing needs and the ways in which they could receive support.

The statement does not specify which states are included in the talks or the amount of funding that could be provided. No timetable for approving the aid or details regarding the financial instruments to be used have been announced so far. The discussions nevertheless represent a response to the risk that instability in the Middle East could create new pressures on prices and the global economy.