Union Bank of Nigeria (Nigeria) (DFC-UNIONBANKOFNIGERIA)

  • 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
Bank Risk Rating
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.
Voting Date
Sep 13, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Union Bank of Nigeria
The holder of the loan, grant, or other investment.
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, etc.
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.
Project Cost (USD)
$ 352.70 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ DFC website

Updated in EWS Aug 24, 2019

Disclosed by Bank Aug 22, 2018

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Project Description

According to the Agency's website, this project provides financing to Union Bank of Nigeria to: (i) expand its small- and medium-enterprise on-lending, (ii) expand on-lending to women-owned small- and medium-sized enterprises, women-led Small- and medium-sized enterprises, women-supporting small- and medium-sized enterprises, and individual women borrowers, (iii) upgrade Union Bank of Nigeria’s digital banking products and technology, and (iv) grow its business in Nigeria through various strategic investments acceptable to OPIC.

Investment Description
  • US International Development Finance Corporation (DFC)
Private Actors