World Bank estimates Gaza war damage at $14 billion to $20 billion
Summary: The World Bank estimates that damage from the ongoing conflict in Gaza is now between $14 billion and $20 billion. This figure includes destruction from Israeli strikes in southern Lebanon as well.
World Bank President Ajay Banga stated that the war's impact on the global economy has been limited so far. However, he noted that an escalation could involve larger economies and commodity exporters.
Banga emphasized the significant loss of civilian life in the conflict. He highlighted that the economic effects will largely depend on the conflict's potential expansion.
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