The African Development Bank Group (AFDB) has approved a new response framework that could mobilise up to $5.1 billion to help African countries cushion the impact of the global energy and fertilizer crisis, amid rising commodity prices and disruptions to international trade, according to a statement seen by BusinessDay.
The statement revealed that the Global Energy and Fertilizer Crisis Response Framework (GEFCRF), approved by the Bank’s Board of Directors on September 1, 2026, is designed to provide immediate financial and policy support to countries facing heightened vulnerabilities while strengthening their capacity to withstand future external shocks.
The framework will be financed through an additional $4.1 billion in African Development Bank lending and up to $960 million from the African Development Fund, the Bank Group’s concessional financing arm.
The additional funding will lift the bank’s 2026 lending target to approximately $12.7 billion, allowing it to direct resources towards countries most affected by the crisis. The one-year response is demand-driven, with assistance tailored to individual countries’ vulnerability levels and financing and policy needs. Related News US bans Canadian alcohol, motorbikes and other goods as trade war deepens DStv’s premium wall is cracking with fault lines running towards Nigeria CBN tightens scrutiny of banks over terrorism financing risks
