In an interview with Reuters Next, Banga warned that a significant expansion of the scope of the war waged by Israel in Gaza could lead to major impacts on the global economy, and described the large loss of civilian lives in the region as “unacceptable.”
He added that the war has a relatively small impact on… Global economy So far, but a significant expansion of the conflict would attract other countries that contribute more to global growth, including commodity exporters..
He continued, “First and foremost, I believe that this massive loss of lives, women, children and other civilians, is unacceptable to all parties.”“.
“On the other hand, the economic impact of this war depends greatly on the extent of its spread,” he added“.
He added, “If it spreads regionally, it will become a completely different issue… as it will begin to move to places that contribute much more to the global economy, both in terms of dollars, and also in terms of minerals, oil, and the like.”“.
And he said Banga The World Bank has provided $300 million, six times what it normally provides, to the Palestinian Authority to help it manage the crisis on the ground, but this number is small compared to the “large sum” it will eventually need..
He added that the Multilateral Development Bank also brought together a group of experts from Jordan, Israel, Palestine, Europe, the United States and Egypt to discuss the short- and long-term measures it could take if a peace agreement could be reached..
“We will have to figure out how to research this matter, discuss it publicly, and then find the resources necessary for it,” he continued, adding that this effort will require private and public resources..
Some Western countries are pushing for a ceasefire between Israel and the Hezbollah group in Lebanon, as well as in Gaza. But the United States, Israel’s strongest ally, confirmed its continued support for it and that it would provide it with an anti-missile system and forces..
Israel launched the military campaign against Gaza after the attack carried out by Hamas on Israel on October 7, 2023, which resulted in the killing of 1,200 people and the detention of about 250 hostages, according to Israeli statistics..
According to the health authorities in Gaza, more than 42,000 Palestinians have been killed in the Israeli attack on the Strip so far..
Israeli strikes in Lebanon over the course of a year also resulted in the deaths of at least 2,350 people and the injury of nearly 11,000, according to the Lebanese Ministry of Health, and more than 1.2 million people were displaced..
