SME Finance Forum member, the Overseas Private Investment Corporation (OPIC) approved approximately $895 million in financing and political risk insurance that will benefit Africa, Asia and Latin America in energy, healthcare, housing and financial services, according to a release by OPIC.

The funds will contribute to the following OPIC initiatives: 2X Women’s Initiative, the Connect Africa Initiative, the Northern Triangle Initiative and the Indo-Pacific Initiative.

A pre-approved project included support to women-owned business and digital banking in Nigeria. According to the release, $200 million has been allocated to help Union Bank of Nigeria expand lending to SMEs, women-led and women-owned businesses.