World Bank President Ajay Banga estimates that the war damage from Israeli strikes on Gaza is now likely in the $14-20 billion range. The destruction from Israel's bombing of southern Lebanon will also contribute to the regional total. Banga mentioned that the war has had a relatively small impact on the global economy, but if the conflict were to widen, it could draw in other countries that are larger contributors to global growth. The economic impact of the war depends on how much it spreads.