The war between Israel and Hamas might have a “serious” impact on global economic development, World Bank President Jim Yong Kim warned at an investor conference in Saudi Arabia on Tuesday.
“What just happened recently in Israel and Gaza — at the end of the day you put all this together, I think the impact on economic development is even more serious,” said Ajay Banga, who went on to say: “I think we’re at a very dangerous juncture.”
According to Israeli officials, Hamas militants killed into Israel from the Gaza Strip on October 7 and killed at least 1,400 people, mostly civilians who were shot or burnt to death on the first day of the operation.
According to the most recent Israeli government figure, the militants also abducted 222 persons, including elderly people and young kids.
Among the hostages are a number of dual nationalities and foreigners. According to Gaza’s Hamas-run health ministry, more than 5,000 Palestinians, mostly civilians, have been killed in retaliatory Israeli bombardments.
Banga was speaking at the annual Future Investment Initiative, recognized as “Davos in the Desert” among several.
According to organizers, over 6,000 attendees have registered for the three-day event, which will feature appearances from global banking CEOs as well as the presidents of South Korea, Kenya, and Rwanda.
The violence in Israel and Gaza stands in stark contrast to the image of a more calm and affluent Middle East championed by Saudi Arabia, which this year repaired ties with Iran and was in talks towards recognizing Israel when the conflict broke out.
