The African Development Bank (AfDB) has approved a framework that could mobilize up to $5.1 billion to help African economies cope with disruptions to energy, fertilizer and food supplies.
Known as the Global Energy and Fertilizer Crisis Response Framework (GEFCRF), the mechanism was approved on September 1 and is designed to provide rapid and targeted support to countries facing the economic impact of global energy and fertilizer shocks.
The package includes $4.1 billion in additional lending from the AfDB and up to $960 million from the African Development Fund. The resources are expected to help countries stabilize their economies and maintain access to essential supplies.
The AfDB said the crisis in the Middle East has created additional external pressures for African economies, including higher energy, food and fertilizer prices. Disruptions to major trade routes and maritime corridors are also increasing transport costs and putting pressure on supply chains.
The framework focuses on four priorities: stabilizing economies, securing energy, fertilizer and food supplies, protecting essential spending and vulnerable households, and supporting longer-term reforms to strengthen economic resilience.
The mechanism will be demand-driven and tailored to the level of vulnerability of individual countries. It will initially remain in place for one year before being reviewed.
Beyond the immediate response, the AfDB said the initiative aims to reduce Africa’s dependence on external markets for energy, fertilizers and food while supporting more diversified supply chains and stronger regional solutions.