World Bank discusses crisis aid for 40 countries

World Bank President Ajay Banga said the bank is in dialogue with 30 to 40 countries on crisis financing tied to Middle East war fallout. In a Reuters interview in Bangkok ahead of IMF and World Bank annual meetings, he said a $25 billion crisis facility was made available when war broke out in late February, with $35 billion more available by redirecting approved project funds. "There is pressure, and so I think maybe over the coming months, more countries will come for some slice of that first US$50 billion to US$60 billion," Banga said. He said support could scale to $100 billion if conditions worsen, compared with $70 billion disbursed during the COVID-19 pandemic. Developing countries owe about $400 billion in external debt repayments in 2026, interest one-third of that total. Last month the bank announced $112 billion in private capital for the year ending June, up from $69 billion and more than triple 2022, plus $123 billion from its own resources for $235 billion combined. No contested facts found. Banga said the bank has 14 or 15 projects in the pipeline to help rotate higher-priced old debt for newer-priced debt with its guarantees.