India, April 2 -- The World Bank, the International Monetary Fund (IMF), and the International Energy Agency (IEA) have announced a coordination group to "maximise" response to energy crises and economic shocks from the West Asian war, especially in emerging countries.

Impacts of the war are "substantial", hitting net energy importers and low-income countries more, the bank said in a statement on Thursday. The multi-agency group will provide recommendations to countries on measures to cushion the shocks, according to the statement.

The group will coordinate a response mechanism that "may include targeted policy advice, assessment of potential financing needs and related provision of financial support (including through concessional fina...