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Asharq Al-Awsat
Asharq Al-Awsat
Business
Asharq Al-Awsat

World Bank: War in Ukraine Raising Risks for MENA

World Bank MENA Ukraine Russia Middle East North Africa United States
The World Bank Group building is viewed on an empty street in Washington, D.C., US, April 13, 2020. (AFP Photo)

The war in Ukraine has "multiplied risks" for the Middle East and North Africa's poorer countries by raising food and energy prices, the World Bank said Thursday, warning of potential social unrest.

In its latest update to its MENA growth forecast, the development lender said inflationary pressures set off by Covid-19 "are likely to be exacerbated" by Russia's invasion.

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