Gulf Crisis Response Programme gets USD10 billion to shield African and Caribbean economies from the Middle East conflict

The African Export-Import Bank has approved a USD10 billion Gulf Crisis Response Programme to mitigate the economic shocks caused by the Middle East conflict, which began on February 28, 2026. This programme aims to support essential imports and enhance the productive capacity of African energy and minerals exporters. It also provides short-term relief to member states whose tourism and aviation sectors have been adversely affected by the crisis.