World Bank President Ajay Banga said today, Tuesday, that the World Bank is able to raise between $80 billion and $100 billion to finance countries that are severely affected by the war’s repercussions in the Middle East over approximately 15 months.
Banga explained that the financing includes between $20 billion and $25 billion that countries can benefit from through the Crisis Response Window, which allows them to obtain up to 10% of the funding approved under existing programs. Meanwhile, we can redirect existing programmes to make available another $30 billion to $40 billion.
Banga added, during an event, that if the war lasts longer, the World Bank would need to rely on its general budget and available resources to find additional financing to reach the required amount, estimated at between $80 billion and $100 billion.
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