US EditionAfreximbank to Avail U.S.$10 Billion Under Its Gulf Crisis Response Programme
- On March 31, 2026, the African Export-Import Bank Board of Directors approved a $10 billion Gulf Crisis Response Programme to shield African and Caribbean economies from severe economic shocks caused by the ongoing Middle East conflict.
- The conflict escalated on February 28, 2026, triggering global repercussions that disproportionately affected African and Caribbean economies dependent on Gulf region imports and exposed to Strait of Hormuz shipping disruptions.
- "This crisis response programme is in tune with our DNA," said Dr. George Elombi, President and Chairman of the Board at Afreximbank, emphasizing the initiative helps countries adjust while strengthening resilience to future shocks.
- Through GCRP, the Bank is securing fuel, fertilizer, and food imports via partnerships with financial institutions while coordinating with the African Union Commission and CARICOM Secretariat on energy security and supply chain diversification.
- The GCRP builds on historical emergency interventions, including the $4 billion Ukraine Crisis Adjustment Trade Financing Programme, which disbursed $39 billion to help African member states navigate global volatility and bridge liquidity gaps.
19 Articles
19 Articles
Afreximbank unveils $10B support plan for Africa to ease Iran war impact
Afreximbank, Africa’s main multilateral trade-finance lender, rolled out a $10 billion emergency program for countries scrambling to pay for fuel, fertilizer, and medicines after the Middle East conflict disrupted shipping and pushed up prices. The move was announced hours before the US and Iran agreed a two-week ceasefire conditioned on the reopening of the Strait of Hormuz.The lender’s package is designed to give governments enough foreign cur…
Afreximbank to Avail U.S.$10 Billion Under Its Gulf Crisis Response Programme
To counter the severe economic shocks triggered by the escalating conflict in the Middle East, the Board of Directors of African Export-Import Bank (Afreximbank) has approved a US$10 billion Gulf Crisis Response Programme (GCRP) to insulate African and Caribbean economies, financial institutions and corporates from the impacts of the ongoing Gulf crisis.
Afreximbank unveils $10B plan to shield Africa & the Caribbean from Gulf crisis fallout
The conflict, which has disrupted global oil, LNG, fertilizer supplies, and key shipping routes such as the Strait of Hormuz, has hit import-dependent African and CARICOM countries hardest, while also affecting investment, tourism, and remittance flows.
Afreximbank launches $10 bn Gulf Crisis Response Programme… to insulate African, Caribbean economies from Gulf crises
TO counter the severe economic shocks triggered by the escalating conflict in the Middle East, the Board of Directors of the African Export-Import Bank (Afreximbank) has approved a $10 billion Gulf Crisis Response Programme (GCRP) to insulate African and Caribbean economies, financial institutions, and corporates from the impact of the ongoing Gulf crisis. The conflict, which escalated on February 28, 2026, has sent shockwaves through the global…
Afreximbank unveils $10bn Iran war response programme
African Export-Import Bank (Afreximbank) has initiated a multibillion-dollar crisis package aimed at insulating African and Caribbean economies from the Middle East conflict. Cairo-headquartered Afreximbank’s response programme will have a $10 billion credit line to sustain essential imports, including fuel, liquefied natural gas, food, fertiliser and pharmaceuticals, by providing short-term foreign exchange and liquidity to support vulnerable m…
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