Union Bank issues statement on $40m IFC deal

Union Bank issues statement on $40m IFC deal

Union Bank of Nigeria has intimated the Nigerian Stock Exchange (NSE) and the investing public on its recent finance deal with the International Finance Corporation (IFC). The IFC, a member of the World Bank Group, had recently announced a $40 million finance guarantee facility to Union Bank to boost access to finance for local business, enable increased international trade for Nigeria. The US$40 million facility, under IFC’s Global Trade Finance Program (GTFP), will support Union Bank to establish working partnerships with nearly 300 major international banks within the GTFP network,…

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IFC Disburses $50m Loan To Nigerian SMEs Affected By Pandemic

IFC Disburses $50m Loan To Nigerian SMEs Affected By Pandemic

The International Financial Corporation (IFC), a member of the World Bank Group, has announced its partnership with Access Bank Plc to strengthen local businesses across Nigeria. In a press release, the IFC said it had provided a $50 million loan to the bank to help it increase liquidity to thousands of small and medium-sized enterprises (SMEs) struggling with the impacts of the COVID-19 pandemic in Nigeria. According to a statement by Eme Essien Lore, IFC Country Manager for Nigeria, it is crucial to support smaller businesses to keep Nigeria’s economy…

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