Middle East conflict: How Afreximbank’s $10bn crisis fund could shield Africa’s economies

• $10bn facility targets fuel, food and FX shocks
• Gulf conflict exposes Africa’s import vulnerabilities

CAIRO, EGYPT — Afreximbank has launched a $10bn emergency programme to shield African and Caribbean economies from the global fallout of escalating conflict in the Gulf region.

The African Export-Import Bank said its Board of Directors approved the Gulf Crisis Response Programme (GCRP) to cushion economies, financial institutions, and corporates from severe external shocks triggered by the crisis.