Twenty-seven countries have activated emergency instruments to access World Bank funds amid the Middle East conflict, according to an internal document. Three countries finalized new contingent instruments, while 24 others are completing administrative steps.
The conflict disrupted global energy networks and blocked fertilizer shipments, impacting developing economies. Kenya and Iraq are seeking rapid assistance from the World Bank.
Kenya faces surging fuel prices, while Iraq deals with reduced oil revenues due to maritime export disruptions. The World Bank's crisis toolkit could allow countries to draw $20-25 billion.
