Union Bank of Nigeria (DFC-2018-UNIONBANKOFN)

Countries
  • Nigeria
Where the impacts of the investment may be experienced.
Financial Institutions
  • US International Development Finance Corporation (DFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
Union Bank of Nigeria
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 200.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 200.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 286.30 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Bank Documents
Primary Source

Original disclosure @ DFC website

Updated in EWS Jun 27, 2020

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Project Description

The proceeds of the OPIC Loan will be utilized by Union Bank of Nigeria to (i) expand its small and medium enterprise (“SME”) on-lending, (ii) expand on-lending to women-owned
SMEs, women-led SMEs, women-supporting SMEs, and individual women borrowers, (iii) upgrade UBN’s digital banking products and technology, and (iv) grow its business in Nigeria through various strategic investments

Investment Description
  • US International Development Finance Corporation (DFC)
Contact Information

No contact information provided at the time of disclosure