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World Bank Ready to Provide Nearly $100 Billion to Crisis-Hit Countries

World Bank President Ajay Banga said the bank is prepared to provide nearly $100 billion to help countries whose economies have been affected by crises and conflicts, including allocations of between $20 billion and $25 billion to address shortages of fertiliser and energy supplies.

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World Bank Ready to Provide Nearly $100 Billion to Crisis-Hit Countries

World Bank President Ajay Banga said the bank is prepared to provide nearly $100 billion to help countries whose economies have been affected by the fallout from current crises and conflicts, including the American-Iranian war.

Financing to Address the Impact of Crises

Banga said the bank has currently allocated between $20 billion and $25 billion to help countries affected by shortages of fertiliser and energy supplies. He said the fallout from the crises extends to the effects of the war in Ukraine and conditions in Sudan and Gaza, and is not limited to tensions in the region.

Artificial Intelligence and Jobs

Regarding the rapid development of artificial intelligence, the World Bank president said the technologies were not a cause for concern, predicting that they would have a positive impact on sectors including healthcare systems, education and agriculture.

Banga added that, so far, there is no link between advances in artificial intelligence technologies and job losses, saying concerns in this regard remain speculative.

Middle East and North Africa Priorities

Banga said creating new job opportunities for young people represents the biggest long-term challenge in the Middle East and North Africa, amid high population growth and young people's rising aspirations for independence and a decent life.

He said the World Bank is currently focusing on infrastructure development, supporting small-scale agriculture with technological solutions, delivering healthcare services to remote areas, boosting tourism and supporting high-value-added industries.

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