African commercial lenders and central banks will be able to access an emergency $1.5bn "bail-out" facility set up by the African Development Bank in a drastic move to prevent trade and investment from seizing up, the AfDB's chief has said.

Donald Kaberuka, president of the AfDB, said the trade finance facility was a "radical departure" for the bank - whose mandate is to provide development finance - but one made necessary by the grave impact of the credit crunch on Africa.