World Bank plans $170bn financing to ease ‘multiple crises’

President deeply concerned about developing countries' amid Russia's war in Ukraine, Covid and inflation

The World Bank is preparing a $170bn package of financial help in response to the overlapping global crises of war, pandemic and inflation that are hitting the poorest countries particularly hard, its president has said.

David Malpass warned that Russia's invasion of Ukraine had added to pressures caused by the Covid-19 crisis and soaring cost of living, and there was a need to provide assistance quickly.