World Bank President Robert Zoellick has cautioned developing countries to brace themselves for challenging times amidst the focus on resolving financial crises in Western economies. Zoellick emphasized that business failures, bank emergencies, and balance of payments crises could occur in developing countries as the crisis continues to spread. He highlighted that the combination of a financial squeeze and rising food and fuel prices will pose challenges for governments in protecting the poor. A new World Bank report presented at upcoming world finance minister meetings predicts that high food and fuel prices will result in an increase of malnourished people by 44 million to over 960 million in 2008. Additionally, around 28 countries have been identified by the World Bank as potentially facing fiscal difficulties. He stated that he would reveal the details later on Thursday before the weekend meetings of finance leaders in Washington. Zoellick told Reuters that as developing countries enter a new phase, it is crucial to consider the risks to their growth, depending on the policies they implement and the support they receive. He remains optimistic about sub-Saharan Africa's potential for growth in the long run, but emphasizes that it will require proactive actions and appropriate investments from the countries themselves. The World Bank is collaborating with developing nations to inform them about the services available to help them prepare for potential crises and assist countries with struggling banking systems. The financial crisis poses a significant threat to the progress made in developing countries in recent years to boost growth and alleviate poverty and disease. Between 1997 and 2007, 17 countries in Sub-Saharan Africa experienced an average growth rate of 6 percent, with most of them being non-oil producers. Conversely, another 8 countries, all of which were oil producers, saw an average growth rate of 8 percent during the same 10-year period. Zoellick expressed concerns over the challenges that economies may face due to a crisis originating in the United States, highlighting frustration, fear, and anxiety. The increased interest from the private sector in developing countries has been driven by improved economic management, reduced conflicts, and the potential for high returns on investments. Notably, countries like China, Brazil, India, and Gulf countries have been actively investing in other emerging economies, leading to a rise in south-south investments. 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 looking towards the future and turning problems into opportunities. He hoped that Western central banks and China would work together to address not only the financial crisis but also the humanitarian crisis of malnourishment in developing countries. He suggested that these countries could contribute to a World Bank fund to assist developing countries facing food and fuel price increases, providing support to small farmers and energy to the poor. Additionally, he called for developed countries to assist the World Bank and IMF in supporting governments dealing with balance of payments issues, climate change, and trade challenges. "We have a part to play, but we also require developed countries to take coordinated action in order to provide support."