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IFC and Union Bank announce partnership to protect Nigeria’s economy

3 mins read

The FINANCIAL — IFC, a member of the World Bank Group, today announced a finance guarantee facility to Union Bank to boost access to finance for local business, enable increased international trade for Nigeria and help protect the country’s economy from the impact of the COVID-19 pandemic. The $40 million facility, under IFC’s Global Trade Finance Program (GTFP), will support Union Bank to establish working partnerships with nearly 300 major banks within the GTFP network, thereby broadening access to finance and reducing cash collateral requirements for Nigerian businesses. The facility will enable the continued flow of trade credit into the Nigerian market…

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IFC and Union Bank announce partnership to protect Nigeria’s economy

3 mins read

The FINANCIAL — IFC, a member of the World Bank Group, today announced a finance guarantee facility to Union Bank to boost access to finance for local business, enable increased international trade for Nigeria and help protect the country’s economy from the impact of the COVID-19 pandemic. The $40 million facility, under IFC’s Global Trade Finance…