27 Nations Seek World Bank Aid Amid Iran War Fallout

Twenty-seven countries have requested access to World Bank funds following the outbreak of war with Iran, according to a World Bank document. An analyst noted that nations prefer the World Bank over the IMF due to the latter's austerity conditions. The document did not name the countries or specify the total funds sought, and the World Bank declined to comment. The war has disrupted global energy markets and supply chains, blocking vital fertilizer shipments to developing nations. Officials in Kenya and Iraq confirmed they are seeking rapid financial support to cope with surging fuel prices and a massive drop in oil revenue, respectively. The 27 countries are among 101 that had access to prearranged financing instruments, including 54 enrolled in the Rapid Response Option, which allows drawing up to 10% of undisbursed funds.