World Bank steps in to provide financial relief to Gulf conflict-affected countries

World Bank – (Web Desk) – The World Bank has stepped up to help. It says it is ready to offer quick financial support to developing countries hit hard by the ongoing conflict in the Middle East.

The bank made this clear in its first official response to the crisis. It said it would combine emergency funding with practical advice and private sector backing to help rebuild jobs and economies.

Several countries that work with the World Bank had already reached out for help. The conflict has been pushing up commodity prices and disrupting supply chains across the region.

The trouble started on February 28, 2026, when the US and Israel launched a war against Iran. Iran then struck back, with its attacks hitting US allied nations in the Gulf and beyond. The region has been in turmoil ever since.

Oil prices have skyrocketed as Iran has virtually blockaded the key Strait of Hormuz, through which nearly a fifth of global energy supplies pass.

The halt in shipping has also snarled supply chains for several key commodities, including fertilizer, potentially affecting food security.

The World Bank said it would use a broad range of tools to help countries, including a “crisis response toolkit, and pre-arranged financing facilities.

“Clearly, this is an evolving situation, and we cannot predict the full range of impacts,” the statement said.

“As everyone has said, the longer this lasts and the more damage there is to critical infrastructure, the more challenging this will be for our clients.”

Oil supply shocks have knock-on inflationary effects and can also cool economic output by putting the brakes on production.

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Most energy supplies from the Gulf are bound for Asian countries, which account for a large number of the World Bank’s clients.