World Bank President Robert Zoellick has cautioned developing countries to brace themselves for challenging times as the financial crisis in Western economies continues to unfold. Zoellick expressed concerns about the potential for business failures, bank emergencies, and balance of payments crises in developing nations due to the crisis spreading. He highlighted the impact of a financial squeeze, along with rising food and fuel prices, which will further complicate efforts by developing country governments to protect their vulnerable populations. A recent World Bank report warns that high food and fuel prices could lead to an increase in the number of malnourished individuals worldwide by 44 million in 2008, reaching over 960 million. Zoellick also identified approximately 28 countries that may encounter fiscal challenges in the near future. He mentioned that he would reveal the details later on Thursday before weekend meetings of finance leaders in Washington. Zoellick stated to Reuters that the danger of developing country growth depends on the policies they implement and the support they receive. He remains optimistic about sub-Saharan Africa's potential for growth in the long term, but emphasized that it will require active efforts and investments. The World Bank is collaborating with developing countries to inform them about the services they can provide to help create contingency plans and assist countries facing strain in their banking systems. The financial crisis poses a significant risk to the progress made in many developing countries to boost growth and reduce poverty and disease. Between 1997 and 2007, an average of 6 percent growth was seen in 17 countries in Sub-Saharan Africa, most of which were non-oil producers. During the same period, 8 countries that were oil producers experienced an average growth of 8 percent. Zoellick expressed concerns about the potential economic challenges that may arise from the crisis originating in the United States. Increased private sector interest in developing countries has been driven by improved economic management, reduced conflicts, and the promise of high investment returns. China, Brazil, India, and Gulf countries have been among the investors participating in south-south investment, where emerging economies invest in one another. Zoellick expressed confidence that despite the financial crisis affecting emerging economies, China would continue investing in natural resources in Africa and Gulf states would focus on investments in agriculture. He emphasized the importance of turning today's problems into opportunities and suggested that Western central banks and China should work together to help developing countries deal with the financial crisis and the issue of increasing malnourishment. He also proposed the creation of a World Bank fund to assist developing countries with rising food and fuel prices, providing fertilizer to small farmers, and energy to the poor. Additionally, he mentioned the need for developed countries to support the World Bank and IMF in helping governments facing balance of payments challenges related to climate change and trade. "We are able to contribute, but we require the developed nations to also collaborate in a coordinated effort to assist with that."