MARRAKESH, MOROCCO - OCTOBER 13: Ajay Banga, President of the World Bank Group, speaks during the International Monetary Fund (IMF) meeting in Marrakesh, Morocco on October 13, 2023.
Ajay Banga told CNBC that the onset of the Israel-Hamas war has thrown nascent normalization talks off course, making regional cooperation much more difficult.
The president of the World Bank on Tuesday said that it will be some time before progress toward a more peaceful Middle East can resume in earnest.
Banga was speaking at the Future Investment Initiative Institute conference in Riyadh, where business leaders are gathered to discuss economic and investment prospects of the Middle East region.
The World Bank chief said that the conflict could have ramifications not only for the region, but also for the wider global economy — most notably for energy markets.
Persons:
Ajay Banga, Abu Adem Muhammed, Banga, CNBC's Dan Murphy, I'm, Kristalina Georgieva
Organizations:
World Bank Group, International Monetary Fund, Anadolu, Getty, CNBC, World Bank, Future Investment Initiative Institute, Palestinian, Israel
Locations:
MARRAKESH, MOROCCO, Marrakesh, Morocco, Israel, Riyadh, East, Gaza, Saudi Arabia, Banga, Russia, Ukraine