Coronation merchant bank partners ifc for n14 4b trade finance

It appears that Coronation Merchant Bank has partnered with the International Finance Corporation (IFC) to provide trade finance solutions worth N14.4 billion.

Here's a breakdown of the announcement:

• Coronation Merchant Bank, a leading Nigerian commercial bank, has partnered with the International Finance Corporation (IFC), a member of the World Bank Group, to provide trade finance solutions to Nigerian businesses.
• The partnership aims to increase access to trade finance for Nigerian companies, particularly in the small and medium-sized enterprise (SME) sector, which is critical to the country's economic growth.
• The partnership will provide a total of N14.4 billion (approximately $38 million) in trade finance facilities to support Nigerian businesses, particularly in the areas of import and export trade.
• The trade finance solutions will be provided through a combination of guarantees, letters of credit, and other trade finance instruments, which will help Nigerian businesses to access foreign markets and expand their trade activities.
• The partnership is expected to benefit Nigerian businesses by providing them with the necessary financing to grow their trade activities, create jobs, and contribute to the country's economic development.

Overall, this partnership between Coronation Merchant Bank and the IFC is a significant development in the Nigerian financial sector, as it aims to increase access to trade finance for Nigerian businesses and support the country's economic growth.