Union Bank of Nigeria has received a $30m loan from the International Finance Corporation (IFC) to boost trade financing and working capital lending to Nigerian firms. The funding will allow the bank to extend lending to businesses in food, healthcare, manufacturing, and services sectors. The loan from IFC, made through its COVID-19 Emergency Response Working Capital Solutions Envelope, will help Union Bank’s customers during the economic impacts of COVID-19. IFC has an investment portfolio of $2.3bn in Nigeria across several sectors.