CAIRO, 13 June. - (ANA) - In the wake of the escalating conflict in the Middle East, Afreximbank approved a US$10 billion Gulf Crisis Response Programme (GCRP) to shield African and CARICOM economies from the economic shocks triggered by the escalating conflict. The crisis, centred on a critical global supply region for oil, LNG and fertilisers, disrupted trade flows, increased import costs and exposed vulnerabilities in countries reliant on fuel, food and external supply chains. The facility is designed to provide immediate foreign exchange liquidity, sustain access to essential imports and stabilise economies under pressure. 

 

Beyond short-term support, the GCRP will help member states adapt to shifting global dynamics. It will enable African energy and minerals exporters to capitalise on elevated prices through pre-export finance and working capital, while extending targeted relief to tourism and aviation. 

 

The initiative builds on Afreximbank’s crisis-response model, reinforcing The Bank’s role as a counter-cyclical institution. - (ANA) -

 

AB/ANA/13 June 2026 - - -