World: Joint Statement by Seven Multilateral Development Banks Pledging Support to Address Impacts of the Middle East Conflict

Country: World Sources: African Development Bank, Asian Development Bank, Council of Europe Development Bank, European Bank for Reconstruction and Development, European Investment Bank, Inter-American Development Bank, World Bank PARIS, May 18, 2026— The signatory Multilateral Development Banks (MDBs) are responding to requests for support from countries and clients to help address the heterogeneous and compound impacts from the conflict in the Middle East, including disruptions to energy and fertilizer markets and trade routes, with spillover effects on inflation, food security, jobs, fiscal and external balances, and financing conditions. MDBs are uniquely positioned to combine financing, policy support, private sector instruments, and technical expertise at scale to help countries manage shocks, preserve development gains, and strengthen long-term resilience. With the support of their shareholders, MDBs are providing assistance in line with our respective mandates, strategies, and operational models. MDBs’ responses aim to provide immediate relief by supporting the most vulnerable populations and ensuring the continuity of essential services, while continuing to lay the structural foundations for sustainable resilient economies, including through: Support to preserve access to essential goods, like to energy, food, and agricultural inputs for economies most exposed to shocks, including through the expansion of trade and supply chain finance to ensure continued access, and support for diversification. Fast-disbursing budget support to help governments facing heightened fiscal pressures mitigate the impact of shocks on the lives and livelihoods of those most at risk, while maintaining price signals, through targeted support to protect poor and vulnerable households. While client governments are under pressure to act s...

Original source: Relief Web