A US$10 billion programme has been launched to help shield African and Caribbean economies from the fallout of the escalating Middle East conflict, as global energy and supply chains come under increasing strain.

The African Export-Import Bank said its Board of Directors approved the Gulf Crisis Response Programme (GCRP) to provide urgent financial support to countries, businesses and institutions affected by the crisis, which intensified on February 28, 2026.

The bank warned that the conflict has sent shockwaves through the global economy, with African and Caribbean states among the hardest hit due to their heavy reliance on imported fuel, fertiliser and food, as well as exposure to key shipping routes such as the Strait of Hormuz.

Under the initiative, Afreximbank will provide short-term foreign exchange and liquidity support to help countries maintain essential imports, including fuel, liquefied natural gas, pharmaceuticals and food supplies.

The programme will also assist tourism- and aviation-dependent economies that have been impacted by rising costs and disruptions linked to the conflict.

In addition to immediate relief, the bank said the facility is designed to strengthen long-term resilience by supporting investments in energy, logistics and port infrastructure, while helping exporters take advantage of higher commodity prices through financing tools such as pre-export funding and working capital.

President and Chairman of the Board at Afreximbank, George Elombi, said the programme reflects the institution’s experience in responding to global shocks.

“This crisis response programme is in tune with our DNA. We understand how our economies work and the pain points associated with these transitory crises,” he said, adding that the initiative would help countries adjust while building stronger economic structures.

The GCRP follows a series of interventions by the bank in response to past crises, including the COVID-19 pandemic and the Ukraine conflict, during which billions of dollars were deployed to help countries maintain access to critical goods and stabilise their economies.

Afreximbank said it has already begun working with financial institutions and private sector partners to secure disrupted supplies of fuel, fertiliser and food, as the crisis continues to affect global trade flows.

The bank also plans to coordinate with regional and international bodies, including the Caribbean Community, the African Union and the United Nations Economic Commission for Africa, to strengthen energy security, trade resilience and supply chain diversification across affected regions.