In an interview with Reuters, World Bank President Robert Zoellick cautioned developing countries to brace themselves for challenges ahead as the financial crisis in Western economies unfolds. Zoellick stated that business failures, bank emergencies, and balance of payments crises are all possible consequences for developing countries. He also highlighted that the combination of a tightening financial situation and rising food and fuel prices will pose difficulties for governments in protecting the poor. A new report from the World Bank predicts that high food and fuel prices will lead to an increase in malnourished individuals worldwide by 44 million in 2008, surpassing 960 million. Zoellick also noted that the bank has identified approximately 28 countries that may encounter fiscal challenges in the near future. He stated that he would reveal the details on Thursday before meetings of finance leaders in Washington over the weekend. Zoellick explained to Reuters that it is important to consider the risks to growth in developing countries and the impact of their policies and support from organizations like the World Bank. He expressed optimism about the potential for sub-Saharan Africa to become a hub of growth in the future, but emphasized that it would require action and investments. The World Bank is collaborating with developing countries to help them understand the services available to them in order to prepare for any financial challenges. The financial crisis poses a significant threat to the progress made in developing countries in terms of economic growth and poverty reduction. Between 1997 and 2007, an average of 6 percent growth was seen in 17 countries in Sub-Saharan Africa, with most being non-oil producers. Additionally, over the same period, 8 oil-producing countries 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, including frustration, fear, and anxiety. The increased interest from the private sector in developing countries is due to better economic management, reduced conflicts, and the promise of high returns on investments. Countries such as China, Brazil, India, and Gulf countries have been investing in other emerging economies, leading to a phenomenon known as south-south investment. Zoellick expressed his belief that despite the financial crisis affecting emerging economies, China would continue investing in natural resources in Africa and Gulf states would focus on agriculture. He emphasized the importance of looking towards the future and turning current problems into opportunities. Just as Western central banks and China took coordinated action to address market turmoil, Zoellick hoped they would also assist developing countries with the financial crisis and the growing issue of malnourishment. He suggested that developed countries contribute to a World Bank fund to help struggling developing nations with rising food and fuel prices, providing fertilizer to farmers and energy to the poor. Additionally, he highlighted the need for support from developed countries for the World Bank and IMF to assist governments with balance of payments and challenges related to climate change and trade. "We are able to contribute, but it is necessary for the developed countries to also take coordinated action in order to support our efforts."