The African Export-Import Bank (Afreximbank) has approved a $10 billion Gulf Crisis Response Programme (GCRP) to protect African and Caribbean economies from the economic fallout of the ongoing Middle East conflict, which continues to disrupt global trade, energy markets, and supply chains.
Financial Support to Stabilise Economies
The programme is designed to provide short-term foreign exchange and liquidity support to vulnerable member states, helping them sustain essential imports such as fuel, fertilisers, and food. Countries heavily exposed to Gulf shipping routes, tourism, remittances, and investment flows have been particularly affected.
In addition to stabilising national economies, the initiative aims to support financial institutions and businesses facing increased operational pressure due to rising costs and supply chain disruptions.
Read more:Â Global Textile Supply Chains Under Pressure Amid Middle East Conflict
Afreximbank also intends to help African energy and mineral exporters benefit from shifting global trade dynamics. Through pre-export finance, working capital, and inventory financing, the programme will enable producers to scale up output and capitalise on elevated commodity prices and rerouted trade flows.
The GCRP further includes targeted relief for tourism and aviation sectors, which have experienced significant downturns as a result of the geopolitical crisis.
Beyond immediate intervention, the programme focuses on strengthening long-term resilience by supporting infrastructure development. Key projects in energy, ports, and logistics—many of which have been delayed—are expected to receive renewed attention and funding.
Through this initiative, Afreximbank aims to not only mitigate short-term economic shocks but also build stronger, more resilient economies capable of withstanding future global disruptions.
