Afreximbank has launched a $10 billion programme to support African and Caribbean economies hit by Middle East disruption. On Tuesday, 7 April, the African Export-Import Bank (Afreximbank) announced a $10 billion Gulf Crisis Response Programme (GCRP), aiming to protect African and Caribbean economies from the ongoing disruption stemming from the conflict in the Middle East. Seeking to enable African energy and mineral exporters to benefit from high global prices and shifting trade patterns by expanding production capacity in key commodities. If the conflict exceeds six months, Africa’s GDP could drop by 0.2% and spark a cost-of-living crisis across the continent, driven by higher fuel and food prices. This would in turn raise food prices, threatening the livelihoods of low-income households at the margins of Africa’s economy.

Source: The North Africa Journal April 07, 2026 19:21 UTC