Afreximbank has approved a $10 billion Gulf Crisis Response Programme to shield African and CARICOM economies from escalating shocks linked to the ongoing Middle East conflict. The bank moved quickly after its Board of Directors signed off on the intervention on March 31, 2026, as global markets continued to face rising instability.
The crisis has disrupted global energy and food supply chains, and it has pushed up costs for fuel, LNG, fertilizer, and essential imports. As a result, many African and Caribbean economies now face stronger inflation pressure and tighter foreign exchange conditions. In response, Afreximbank designed the programme to stabilize trade flows and support liquidity across vulnerable member states.
Through the programme, Afreximbank will provide short-term foreign exchange support and liquidity to help countries maintain imports of fuel, food, pharmaceuticals, and fertilizers. At the same time, it will support aviation and tourism sectors that have suffered from rising operational costs and disrupted travel routes. Moreover, the bank will help energy and minerals exporters expand production through pre-export finance, working capital, and inventory financing.
The initiative also targets long-term resilience. It will accelerate energy, port, and logistics infrastructure projects across Africa and the Caribbean. In addition, it will reduce dependence on fragile supply routes and strengthen regional production capacity. Consequently, economies are expected to build stronger buffers against future global shocks.
Afreximbank President and Board Chairman George Elombi said the programme reflects the institution’s core mission to support African economies during global disruptions. He stressed that the bank understands the pressure points created by transitory crises and continues to act early to reduce economic damage.
The bank noted that the Gulf region remains central to global energy supply, including oil and LNG exports. However, tensions around key shipping routes such as the Strait of Hormuz have increased uncertainty in global trade. Therefore, African and CARICOM economies that rely heavily on imports now face higher exposure to external shocks.
Afreximbank will not operate alone in implementing the GCRP. Instead, it will coordinate with major institutions such as the United Nations Economic Commission for Africa UNECA, the African Union Commission AUC, the AfCFTA Secretariat AfCFTA Secretariat, and the Caribbean Community Secretariat CARICOM Secretariat. This collaboration aims to improve coordination on energy security, trade resilience, and supply chain diversification.
The bank also highlighted its track record in crisis response. During previous global shocks, including the COVID-19 pandemic and the Ukraine crisis, Afreximbank deployed large-scale financing programmes that helped member states maintain access to essential goods. For example, it previously rolled out emergency trade finance facilities that supported liquidity and stabilized imports across multiple African markets.
Through early interventions under the GCRP, Afreximbank has already begun working with banks and corporate partners to secure fuel, fertilizers, and food imports. At the same time, it continues to monitor disruptions across global shipping routes to reduce risks for member states. Ultimately, the programme positions the bank as a central stabilizing force for African and CARICOM economies navigating an increasingly volatile global environment.
