Afreximbank launches $10bn crisis support for Africa, Caribbean
Afreximbank headquarters in Cairo, Egypt. The bank has launched a $10 billion plan to cushion African and Caribbean economies from the Middle East conflict’s fallout.
The African Export-Import Bank has approved a $10 billion Gulf Crisis Response Programme to help African and Caribbean economies as well as their banks and companies counter the severe economic shocks triggered by the conflict in the Middle East, it said on Tuesday.
The support programme is designed to, among other aims, sustain essential imports - including fuel, LNG, food, fertiliser, pharmaceuticals – by providing short-term foreign exchange (FX) and liquidity to support vulnerable member states.
