• Afreximbank launches $10 billion emergency program to cushion economic fallout
• Initiative targets fuel, food, and trade disruptions affecting member states
• Plan also aims to strengthen long-term resilience in energy and infrastructure

The African Export-Import Bank (Afreximbank) announced on April 7 the launch of a $10 billion emergency intervention program to mitigate the economic impact of the ongoing conflict in the Middle East on countries in Africa and the Caribbean.

The initiative, known as the Gulf Crisis Adjustment Program (GCRP), is designed to protect economies, financial institutions, and businesses in member states from disruptions linked to the escalation of the conflict since February. The crisis is particularly affecting countries reliant on imports of fuel, liquefied natural gas, fertilizers, and food, as well as those exposed to Gulf shipping routes, investment flows, tourism, and remittances.

The ongoing Gulf crisis is disrupting global trade, energy, and supply chains.

Afreximbank has launched a US$10 billion programme to help shield African and CARICOM economies, ensuring access to critical imports and supporting economic stability across regions.
--------… pic.twitter.com/raXCuMyfxp

— African Export-Import Bank - Afreximbank (@afreximbank) April 7, 2026

A program to support economies and secure trade flows

The program aims to ensure continuity in essential imports by providing foreign exchange and short-term liquidity to the most vulnerable countries. It also seeks to help African exporters of energy and minerals benefit from rising prices and shifting trade flows through pre-export financing, working capital support, and storage facilities.

Beyond the immediate response, the initiative is intended to strengthen medium- and long-term economic resilience. This includes expanding production capacity in the energy and mining sectors and accelerating infrastructure projects in energy, ports, and logistics across Africa and the Caribbean.

According to Afreximbank President George Elombi, “The program 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.”

The conflict in the Middle East has exposed and intensified economic vulnerabilities across Africa, particularly through rising costs of energy, fertilizers, and food. These pressures have pushed several governments to accelerate structural reforms in agriculture, energy, and social protection.

The GCRP builds on earlier emergency mechanisms deployed by Afreximbank in response to the crisis. Last week, the bank subscribed $2.5 billion to a syndicated loan for Dangote Petroleum Refinery and Petrochemicals FZE, reinforcing its role as a fuel supplier for five African countries.

Charlène N’dimon