Jakarta, CNBC Indonesia – War between Israel and the Palestinian Hamas group could deal a “serious” blow to global economic development. This was conveyed by World Bank President Ajay Banga at an investor conference in Saudi Arabia.
Banga spoke at the Future Investment Initiative’s annual event, often referred to as “Davos in the Desert” on Tuesday (24/10/2023).
“What just happened in Israel and Gaza – in the end if you put all this together, I think the impact on economic development is even more serious,” Banga was quoted as saying AFP.
“I think we are at a very dangerous moment,” he added.
Previously, Hamas invaded Israel from the Gaza Strip on October 7 and killed at least 1,400 people. According to Israeli officials, most of the civilians were shot or burned to death on the first day of the attack.
According to the Israeli authorities’ latest count, Hamas is also reportedly holding 222 people hostage, including elderly people and children. The hostages include dozens of dual citizens and foreign nationals.
As a result of the Hamas attack, Israel counterattacked the Gaza Strip. As a result, according to the latest casualty figures from the Hamas health ministry in Gaza, more than 5,000 Palestinians, mostly civilians, were killed across the Gaza Strip as a result of Israeli retaliatory bombardment.
The shocking violence in Israel and Gaza also stands in stark contrast to the vision of a more stable and prosperous Middle East championed by Saudi Arabia. Saudi Arabia has in recent weeks condemned violence against civilians in Gaza and affirmed its support for the Palestinian cause.
A source familiar with discussions regarding possible normalization with Israel told AFP this month that process has been halted.
This war occurred in the midst of the Vision 2030 reform agenda championed by the authorities de facto kingdom, Crown Prince Mohammed bin Salman, who aims to shift the world’s largest crude oil exporter away from fossil fuels.
[Gambas:Video CNBC]
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