World Bank Plans to Mobilize Billions to Aid War-Affected Nations, Exceeding Pandemic Response
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World Bank President Ajay Banga announced plans to mobilize $80 billion to $100 billion over the next 15 months to assist countries severely impacted by the Middle East war, surpassing the $70 billion provided during the COVID-19 pandemic. Funds will be sourced through a 'crisis response window' and by reallocating existing program funds. The IMF has also lowered global growth forecasts, reflecting the war's significant economic impact.
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