Coronation Merchant Bank Limited will receive a working capital facility under an IFC dedicated COVID-19 Emergency Response WCS Envelope (the WCS Facility). The WCS Facility will provide funding to existing IFC client banks in emerging markets, which will then extend new trade-related or working capital loans to businesses whose cash flows have been disrupted by the global coronavirus pandemic.
Resilience: in the context of the shock associated with the COVID pandemic, IFC will, through the proposed investment, support the Bank's capacity to sustain operations and particularly lending to critical sectors of the Nigerian economy.
Increase in access to finance: The proposed investment is expected to increase access to finance for players in key sectors of the Nigerian economy by helping the Bank scale up its trade-related financing to enterprises in Nigeria, which in turn is expected to drive economic growth and job creation.
Head, Global Trade
Coronation Merchant Bank Limited
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