PROJECT

Projects

Summary of Investment Information

Project Number

42031

Company Name

SLGP RSF Union Bank Nigeria

Date SPI Disclosed

May 24, 2019

Country

Nigeria

Region

Africa

Projected Board Date

Jul 5, 2019

Environmental Category

FI-2 - Limited

Status

Pending Approval

Last Updated Date

Jun 2, 2021

Department

Regional Industry - FIG ME & Africa

Industry

Financial Markets

Sector

Commercial Banking - General

Additional Project Attributes

Blended Finance

Project Description

 The proposed project is a US$25 million Unfunded Risk Sharing Facility (“RSF”) (for a total portfolio of US$50 million local currency equivalent) with Union Bank of Nigeria PLC (‘Union Bank’ or “the Bank”), a leading financial institution that also serves Small Medium Enterprise (SME) segment in Nigeria (‘the Country”). The RSF will support the Bank in increasing its lending to SMEs, including Women-Owned SMEs (“WSMEs”), and those operating in the northern and delta regions in Nigeria (the “Project”).                                                    

                                                  

Associated Advisory Engagement

 There is an embedded onboarding advisory services component aimed at enhancing the capacity of the Bank to handle RSFs.

 There is also a proposed SME Advisory Services to assist the Bank grow its SME portfolio.

                                                  

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation