Global crises: World Bank disburses $114.9bn in 2022

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In a bid to mitigate the global crisis threatening the peace and security of all and sundry, the World Bank Group disclosed that it has disbursed $114.9 billion in financing in 2022.

According to the report on the bank website, it provided advice and financing in response to the sharpest economic slowdown in eight decades, rising inflation, deepening food insecurity, war and fragility, and the continued negative impact of the COVID-19 pandemic.

The statement read in part:

“Amid these devastating crises, the World Bank Group deployed a record $114.9 billion in the year under review.

“Commitments during the year were informed by our knowledge work and helped countries address rising food prices, manage refugee flows, and bolster health preparedness.

“The bank also helped maintain private sector trade, and support efforts to mitigate and adapt to climate change, among others, benefitting especially the poor and most vulnerable.”

The World Bank Group President, David Malpass affirmed that “developing countries are facing multiple challenges from war to surging food and energy prices.”

He added that the bank is committed to addressing the food crisis, the war in Ukraine, and its spillover effects.