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Illustrative: A worker collects engine oil as he works at a degassing station in the Zubair oil field near Basra, Iraq, on March 28, 2026. (AP Photo/Leo Correa)
May 15, 2026, 10:21 am
Iraq seeking assistance from IMF and World Bank after oil income slashed by Iran war
Talks commenced during global lenders’ meeting in Washington last month, and are expected to be finalized once a new government assumes power in Baghdad, officials say
By Andrea Shalal and Muayad Hameed Suad
In this drone photo, Palestinians walk in an intersection surrounded by buildings destroyed during two years of Israeli army bombardments in Gaza City, Wednesday, Oct. 15, 2025. (AP)
May 6, 2026, 4:53 pm
Gaza rebuild priced at $71 billion, with most homes and nearly all businesses destroyed
First comprehensive report since ceasefire, compiled by World Bank, UN and EU, finds war caused over $35 billion of direct damage and over $22 billion more of economic losses
By Nurit Yohanan
Buildings that were destroyed during the fighting between Israel and Hamas are seen in the northern Gaza Strip during the sunrise, as seen from southern Israel, October 17, 2025. (AP Photo/Leo Correa)
October 18, 2025, 6:43 am
World Bank, UN and EU raise estimated cost of Gaza reconstruction to $70 billion
UN official says ‘we are capable’ of rebuilding Strip but ‘the conditions have to be right. We need the hostages released, the bodies released
By Reuters and ToI Staff
Karim Souaid, the newly appointed Lebanon's Central Bank governor, speaks during a taking office ceremony at the Lebanese Central Bank building, in Beirut, Lebanon, April 4, 2025. (AP Photo/Hussein Malla)
April 4, 2025, 2:41 pm
Lebanon’s new central bank chief vows to combat terror financing
Karim Souaid says bank must counter money laundering, restructure banking system as he begins task of repairing economy battered by decades of corruption and war
By BASSEM MROUE
People inspect the damage at the site of overnight Israeli airstrikes that targeted the Rweiss neighborhood in Beirut's southern suburbs on November 9, 2024. (Ibrahim Amro/AFP)
November 14, 2024, 7:48 pm
Hezbollah’s war with Israel cost Lebanon at least $8 billion — World Bank
Report says losses concentrated in commerce, tourism, hospitality and agriculture, in addition to damage to physical structures; final costs expected to be far higher
By Agencies and ToI Staff
Finance ministers and central bank governors pose for the family picture at the G7 Finance Ministers meeting in Stresa, Italy, on May 24, 2024. (Gabriel Bouys/AFP)
May 25, 2024, 4:25 pm
G7 to urge Israel maintain bank links with PA amid fears of potential fiscal collapse
Finance ministers and central bankers to also call on Israel to release withheld clearance revenues to PA, citing ‘its urgent fiscal needs’
By Agencies and ToI Staff
International Monetary Fund (IMF) Managing Director Kristalina Georgieva (R) speaks during the World Governments Summit in Dubai on February 12, 2024. (Photo by RYAN LIM / AFP)
February 12, 2024, 5:12 pm
IMF, World Bank ring economic warning bells over Gaza war, Red Sea attacks
International Monetary Fund’s managing director tells World Governments Summit that Middle Eastern, North African economies have already been affected
By AFP and ToI Staff
A picture taken from southern Israel shows destroyed buildings in the Gaza Strip on January 17, 2024. (JACK GUEZ / AFP)
January 24, 2024, 7:40 pm
World Bank report finds 45% of residential buildings in Gaza ruined beyond repair
Heaviest damage estimated in north Gaza and Gaza City area, where some 60% of residential structures were destroyed and thousands more impacted, leaving over 1 million homeless
By Tani Goldstein and ToI Staff
Crowds of people shop in an open-air market in the southern Gaza Strip city of Khan Younis on November 28, 2023. (Mohammed Abed/ AFP)
December 12, 2023, 11:50 pm
World Bank warns war causing ‘unparalleled’ damage to Palestinian economy
Global body notes destruction of most of Gaza’s infrastructure, predicts 3.7% contraction this year compared to pre-war prediction of 3.2% growth
By Agencies and ToI Staff
A BP oil refinery is seen in Gelsenkirchen, Germany, Tuesday, Oct. 24, 2023. The World Bank says oil prices could be pushed into “uncharted waters” if the war between Israel and Hamas were to escalate. (AP Photo/Martin Meissner, File)
October 30, 2023, 3:23 pm
World Bank warns Israel-Hamas war could push oil prices into ‘uncharted territory’
Bank says worst-case scenario would see conflict spread across the region and oil prices exceed $140 per barrel, driving up the cost of food
By AFP
Palestinian ambulance workers and paramedics protest against the Israeli blockade, not allowing them to bring some medical equipment to Gaza hospitals, east of Gaza City, Jan. 9, 2023. (AP Photo/Adel Hana)
September 18, 2023, 11:44 am
World Bank: Israeli restrictions on West Bank, Gaza hinder Palestinians’ healthcare
International lender decries ‘lengthy, bureaucratic regime of permits,’ saying many Palestinians die before they can obtain treatment
By AFP and ToI Staff
A Palestinian man sits on the rubble of a building destroyed by Israeli airstrikes in Gaza City on June 15, 2021. (MOHAMMED ABED / AFP / File)
July 16, 2023, 11:02 pm
World Bank: Over half of Palestinians in West Bank and Gaza suffer from depression
Conflict and unemployment are heavily impacting mental health, organization says; calls for a ‘holistic’ solution
By Gianluca Pacchiani
A Palestinian man counts stacks of banknotes at a currency exchange counter in the West Bank city of Ramallah on October 5, 2021. (Abbas Momani/AFP)
May 2, 2023, 9:21 pm
World Bank warns outlook ‘bleak’ for Palestinian economy
Global lender says Israeli restrictions ‘among the most important obstacles to growth and private sector development’ in West Bank and Gaza
By AFP and ToI Staff
A man walks among the rubble of collapsed buildings in Hatay on March 6, 2023, one month after a massive earthquake struck southeastern Turkey. (OZAN KOSE/AFP)
March 7, 2023, 2:00 pm
UN estimates damage from Turkey earthquake will exceed $100 billion
Figure far in excess of World Bank’s $34 billion estimate; 7.8 magnitude quake in Turkish-Syrian border area last month claimed more than 50,000 lives
By AFP
A Palestinian vendor displays a variety of pickles, widely desired as a side dish while breaking fast in Ramadan, in front of his cafeteria in the West Bank city of Ramallah, April 2, 2022. (Nasser Nasser/AP)
May 10, 2022, 10:55 am
World Bank: Despite growth, ‘precarious’ Palestinian economy needs more aid
Report ahead of donor conference in Brussels – to be attended by Israeli minister – finds West Bank economy grew 7.8% in 2021, but was hit by record-low foreign donations
By AFP
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