IFC announces $25mi shared-risk facility for Nigerian SMEs

Region:

Middle East & Africa

The International Finance Corporation has announced a $25million local-currency investment in a risk-sharing facility to expand Union Bank’s lending to small and medium-sized enterprises in Nigeria.

The facility, which will cover as much as 50% of the risk of the bank’s loans to entrepreneurs, aims to help Nigerian businesses grow and create jobs.

The new facility is part of IFC’s Small Loan Guarantee Programme, aimed at easing local-currency lending to SMEs in frontier markets.

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