The ripple effects of geopolitical conflicts are beginning to show, with 27 countries activating emergency mechanisms to seek aid from the World Bank; the crises in Kenya and Iraq are just the tip of the iceberg.

CryptoWorld News reports that, according to Reuters, 27 countries have activated their domestic crisis response mechanisms in order to apply for funding from the World Bank to address the global economic impacts caused by the Iran conflict. Although the World Bank documents do not specify the names of the countries or the potential total amount of funding requested, officials from Kenya and Iraq confirmed that they are seeking rapid financial support from the World Bank to cope with the effects of the conflict, such as soaring fuel prices and a sharp decline in oil revenues.