The African Export-Import Bank (Afreximbank) has approved a $10 billion emergency facility known as the Gulf Crisis Response Programme (GCRP) to shield African and Caribbean nations from the economic shocks of the escalating Middle East conflict.
Key Objectives of the GCRP involves Sustaining Essential Imports. Provides short-term foreign exchange (FX) and liquidity to ensure member states can import critical supplies like fuel, liquefied natural gas (LNG), food, fertilizers, and pharmaceuticals.
It will Offer immediate relief to the tourism and aviation industries, which have been hit hard by rising fuel prices and travel disruptions caused by the crisis.
By helping energy and mineral exporting countries capitalize on higher commodity prices by providing pre-export financing and working capital to scale up production and to fast-track delayed infrastructure projects in energy, ports, and logistics to build resilience against future global shocks.
The conflict, which intensified around February 28, 2026, has disrupted critical supply routes like the Strait of Hormuz and impacted global energy markets.
Afreximbank is coordinating this response with the African Union Commission (AUC), the AfCFTA Secretariat, and the Caribbean Community (CARICOM) Secretariat.
This program builds on previous successful interventions, such as the $4 billion Ukraine Crisis Adjustment Trade Financing
Programme (UKAFPA), which ultimately disbursed $39 billion to manage liquidity gaps.
