EBRD Explores Aid for Businesses Hit by Iran War

The European Bank for Reconstruction and Development, Europe's leading development institution, is exploring support programs to assist businesses in its operating regions as they grapple with economic disruptions from the war in Iran, now in its third week, its president said on March 16.

The conflict has driven oil prices above $100 per barrel, restricted access to fertilizers, food, and goods passing through the Strait of Hormuz, and forced rerouting of air travel routes. These developments threaten private sector stability across the 40 countries where the EBRD promotes development projects, spanning Eastern Europe, Central Asia, the Middle East, and Africa. "We are really already looking at what we can do to support our clients in the countries most definitely affected," EBRD President Odile Renaud-Basso told reporters.

Potential assistance could target immediate challenges, such as enabling companies to manage elevated energy costs, secure fertilizer supplies amid shortages, or sustain tourism operations in nations like Egypt, Jordan, and Lebanon hit by flight disruptions. "This is a new shock, and we need to be ready to provide support to accommodate this shock,"...