Economy
07:58 AM | 23 May 2026
After the Iran war, 27 countries seek emergency funding from the World Bank
Fady Mahouly
An internal document seen by Reuters reported that 27 countries, since the outbreak of the Iranian war, have begun activating crisis response mechanisms that allow them to immediately obtain financing through existing World Bank programs.
The document issued by the World Bank did not clarify the identities of these countries or the total amounts expected to be requested, while the World Bank refused to make any comment on the matter.
The document showed that three countries have adopted new financing tools since the conflict began in the Middle East on February 28, while the rest of the countries continue to complete the necessary official procedures.
The war and the accompanying disturbances in global energy markets caused disruption to international supply chains and prevented necessary fertilizer shipments from reaching developing countries.
Officials from Kenya and Iraq confirmed their efforts to obtain urgent financial support from the World Bank to confront the repercussions of the war, including the rise in fuel prices that the African country is suffering from, and the sharp decline in Iraq’s oil revenues.
These countries are among a list of 101 countries that have access to pre-prepared financing tools to benefit from in times of crises, including 54 countries that have joined the rapid response option, which allows the use of approximately 10 percent of their allocated and unused funds.
World Bank President Ajay Banga said last month that the bank's emergency response toolkit will enable countries to withdraw pre-arranged financing, balances from current projects, and rapid means of disbursement, to secure between 20 and 25 billion dollars.
Banga explained that the bank has the ability to redirect parts of its financial portfolio to raise this amount to $60 billion within half a year, with the possibility of making long-term adjustments to bring the total to about $100 billion.
For her part, Director of the International Monetary Fund, Kristalina Georgieva, expected that about 12 countries would request short-term aid worth between 20 and 50 billion dollars, but three informed sources reported that the number of registered requests was still small.
One of the sources, who preferred to remain anonymous, described the countries' current position as being in a state of anticipation and waiting.
For his part, Director of the Center for Global Development Policy at Boston University, Kevin Gallagher, pointed out that countries tend to request money from the World Bank instead of negotiating with the International Monetary Fund, given that the Fund’s programs often require austerity measures that may exacerbate the social unrest experienced by countries such as Kenya.