Afreximbank has approved a US$10 billion Gulf Crisis Response Programme (GCRP) to protect African and CARICOM economies, financial institutions, and corporates from the ongoing Gulf crisis, which escalated on 28 February 2026. The conflict has disrupted global markets, particularly affecting nations reliant on fuel, LNG, fertilisers, food imports, Gulf shipping corridors, tourism, investment flows, and remittances.
The GCRP aims to sustain essential imports by providing short-term foreign exchange and liquidity support to vulnerable member states. It also seeks to help African energy and mineral exporters take advantage of elevated prices and rerouted trade flows through pre-export finance, working capital, and inventory funding. The programme provides relief to tourism and aviation sectors affected by the crisis and supports medium- to long-term resilience by scaling productive capacity and accelerating critical energy, port, and logistics infrastructure projects delayed by the conflict.
Dr. George Elombi, President and Chairman of Afreximbank, emphasized that the GCRP aligns with the Bank’s mission to support member economies in adjusting to transitory crises while strengthening their resilience for the future. The programme builds on Afreximbank’s history of emergency interventions, including the US$4 billion Ukraine Crisis Adjustment Trade Financing Programme for Africa (UKAFPA), which disbursed US$39 billion to help countries manage liquidity and essential goods shortages during the Ukraine crisis.
Through GCRP, Afreximbank has already partnered with banks and corporates to secure disrupted supplies of fuel, energy, fertilisers, and food. The Bank will also coordinate a regional response in collaboration with UNECA, the African Union Commission, the AfCFTA Secretariat, and the CARICOM Secretariat to enhance energy security, trade resilience, and supply chain diversification.
Afreximbank is a Pan-African multilateral financial institution dedicated to promoting intra- and extra-African trade. With over 30 years of experience, the Bank supports industrialisation and trade transformation across Africa and has been a key supporter of the AfCFTA, including through its Pan-African Payment and Settlement System (PAPSS) and a US$10 billion Adjustment Fund. As of December 2024, Afreximbank’s total assets and contingencies stood at over US$40.1 billion, with shareholder funds of US$7.2 billion, and it maintains investment-grade ratings from multiple global agencies. The Bank operates as a group, including its equity impact fund subsidiary FEDA and insurance management subsidiary AfrexInsure, and is headquartered in Cairo, Egypt.
