World Bank discusses aid for energy crises
The World Bank is in discussions with around 40 countries to support them in facing energy crises and rising prices caused by the war in the Middle East, especially amid increasing energy and fertilizer costs and the impact of a severe "El Niño" phenomenon. Estimates indicate that developing countries will owe external lenders approximately $400 billion by 2026, with interest payments accounting for one-third of the total, while the global economy is experiencing a slowdown due to market disruptions and rising interest rates. The Bank is preparing to provide financial support potentially amounting to $100 billion to assist these countries, with a focus on debt restructuring and improving domestic revenues, as part of efforts to promote economic growth and provide funding for small and medium-sized enterprises.
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