Washington, Mar.26 (SANA) The World Bank announced on Thursday its readiness to actively intervene to help the governments of its client countries confront the escalating economic repercussions of the war in the Middle East.

In a statement published on its website, the Bank affirmed that it is working intensively with governments, the private sector, and regional partners. It noted that it is in direct contact with the most affected countries to understand the challenges on the ground and address the worsening impacts, which range from increased shipping costs and supply risks to energy, fertilizers, and other vital agricultural inputs.

The Bank revealed record price surges between February and March, with crude oil prices rising by approximately 40 percent, liquefied natural gas (LNG) shipments to Asia increasing by nearly two-thirds, and nitrogen fertilizer prices rising by almost 50 percent in March.

The World Bank explained that it intends to respond comprehensively by combining immediate financial relief, advisory support, and assistance provided through its private sector recovery arm, with the aim of preserving jobs and fostering economic growth.

Mazen