Baku:United Nations Development Programme (UNDP) Administrator Alexander De Croo has issued a warning that millions are at risk of falling into poverty due to ongoing tensions in the Middle East, escalating energy costs, the severe impacts of El Nino, and high interest rates.

According to Qatar News Agency, De Croo highlighted that while many developing countries initially mitigated energy price shocks through wide-ranging support packages, these nations have since exhausted their resources. This depletion has limited their capacity to continue relief efforts effectively.

He emphasized that regions such as South and East Asia and Sub-Saharan Africa are particularly vulnerable to these economic challenges. De Croo noted that these areas face a series of successive crises and urgently need operational flexibility, time, and access to necessary financing to cope.

Additionally, De Croo warned that the combination of these crises is hindering developing nations' access to essential capital, with high interest rates exacerbating their debt-servicing challenges.