PROJECT

Projects

Summary of Investment Information

Project Number

42662

Company Name

UNION BANK OF NIGERIA PLC

Date SPI Disclosed

Jun 30, 2020

Country

Nigeria

Region

Africa

Environmental Category

FI-3 - No Impact

Status

Pending Disbursement

Last Updated Date

Nov 19, 2025

Department

CF3S6 - Regional Industry - FIG ME & Africa/FIG Inv Ops - Africa

Industry

Financial Markets

Previous Events

Approved : Nov 11, 2004
Signed : Mar 13, 2019

Sector

Commercial Banking - Trade

Project Description

 The project consists of an investment of up to US$ 40 million in Union Bank of Nigeria Plc (“Union Bank” or the “Bank”) in the form of a trade finance guarantee facility for transactions with tenor up to one year. This is part of the GTFP program (https://disclosures.ifc.org/#/projectDetail/SPI/23898)

                                                  

Associated Advisory Engagement

                  

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation