World Bank Warns of Global Economic Risks from Mideast Conflict
World Bank President Ajay Banga highlights potential for significant economic impact if Israel-Gaza conflict expands regionally.
- Ajay Banga, President of the World Bank, has warned that a broader Israel-Gaza conflict could have substantial repercussions on the global economy.
- Current war damages in Gaza are estimated between $14 billion and $20 billion, with additional costs expected from southern Lebanon.
- A wider conflict could involve countries that are major contributors to global growth, particularly in commodities like minerals and oil.
- The World Bank has allocated $300 million to the Palestinian Authority, though more resources will be needed to address the crisis.
- Efforts are underway to assemble international experts to explore potential short- and long-term solutions if a peace agreement is reached.
Denver Gazette 
