An internal World Bank document obtained by Reuters shows that 27 nations have taken steps to secure rapid access to emergency funding through existing bank programs following the start of the Iran war.
The confidential document did not identify which specific countries are involved or reveal the total dollar amounts they are seeking. World Bank officials declined to provide comment on the matter.
According to the document, three nations have successfully established new funding mechanisms since the Middle East conflict started on February 28, while the remaining countries continue working through the approval process.
The ongoing conflict has created widespread disruption in global energy markets, damaging supply chains worldwide and blocking critical fertilizer deliveries to developing nations.
Government officials from Kenya and Iraq have publicly confirmed their efforts to obtain emergency World Bank assistance to address war-related impacts, including Kenya’s struggle with rising fuel costs and Iraq’s significant decline in oil revenues.
These 27 nations are part of a larger group of 101 countries that have access to various pre-established financing tools for crisis situations. This includes 54 countries enrolled in the Rapid Response Option, which permits nations to utilize up to 10% of their unused financing.
World Bank President Ajay Banga announced last month that the institution’s emergency response tools would enable countries to access between $20 billion and $25 billion through pre-arranged emergency financing, existing project funds, and rapid-disbursement programs.
Banga indicated the bank could redirect portions of its investment portfolio to reach $60 billion within six months, with potential long-term adjustments bringing the total to approximately $100 billion.
During the same period, International Monetary Fund head Kristalina Georgieva predicted that up to 12 countries would request between $20 billion and $50 billion in immediate assistance from the global lending institution. However, according to three informed sources, few formal requests have been submitted.
“Countries are definitely in wait-and-see mode,” one source said, requesting anonymity.
Kevin Gallagher, director of the Global Development Policy Center at Boston University, explained that nations prefer World Bank funding over IMF negotiations because IMF programs typically mandate austerity policies that could worsen social unrest already occurring in countries like Kenya.
