IFC partners with Coronation Merchant Bank to boost trade finance in Nigeria

Region:

Middle East & Africa

The International Finance Corporation has announced a $40 million Trade Finance Guarantee facility to Nigeria's Coronation Merchant Bank.

The facility, made under its Global Trade Finance Program, will enable Coronation Merchant Bank to establish and expand correspondent banking partnerships with several international banks in IFC’s Trade Finance program, broadening access to finance in Nigeria.

The Global Trade Finance Program offers confirming banks full or partial guarantees to cover the trade-related payment obligations of Coronation Merchant Bank.

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