CAIRO, April 7 – The African Export-Import Bank (Afreximbank) has approved a $10 billion Gulf Crisis Response Programme aimed at shielding African and Caribbean economies from the economic fallout of the escalating conflict in the Middle East.
The initiative comes as the crisis, which intensified in late February 2026, disrupts global supply chains and drives up prices for critical commodities including oil, liquefied natural gas and fertilisers. Economies across Africa and the Caribbean, many of which depend heavily on imports and trade flows linked to the Gulf region, have been among the most exposed.
The programme is designed to provide immediate liquidity support, enabling countries to sustain essential imports such as fuel, food, fertiliser and pharmaceuticals. It will also extend foreign exchange support to stabilise economies facing pressure from rising import costs and volatile currency conditions.
Beyond short-term relief, Afreximbank aims to use the facility to strengthen long-term resilience. The programme includes financing tools such as pre-export funding, working capital and inventory financing to help African producers scale output and take advantage of elevated global commodity prices. It also targets support for sectors like tourism and aviation that have been directly impacted by the crisis.
“This crisis response programme is in tune with our DNA. We understand how our economies work and the pain points associated with these transitory crises”. Dr. George Elombi, President and Chairman of the Board of Directors at Afreximbank said.
“The programme will support African countries in adjusting smoothly to the crisis while strengthening their resilience to future shocks through interventions that transform the structure of their economies. I commend the Board of Directors of Afreximbank for their proactivity and fortitude in approving this intervention programme.” He added.
The Gulf Crisis Response Programme builds on previous interventions by the bank, including support measures deployed during the COVID-19 pandemic and the Ukraine conflict, where large-scale financing helped countries maintain access to essential goods and stabilise their economies.
In parallel, Afreximbank is coordinating with key regional and international institutions, including the African Union, the African Continental Free Trade Area Secretariat, the United Nations Economic Commission for Africa and the Caribbean Community, to strengthen supply chains, improve energy security and enhance regional trade resilience.
The move underscores a broader shift toward proactive financial intervention as African institutions seek to mitigate the impact of global volatility while advancing structural transformation across the continent.
