citi-to-participate-in-ifc-trade-utility

Citi to participate in IFC trade utility

Citi signs an agreement to support the IFCÆs new global trade liquidity programme.

Acting to make trade finance available in developing countries, Citi has signed a memorandum of understanding with the International Finance Corporation IFC to support the organisation's global trade liquidity programme.

Under the terms of the agreement, Citi and the IFC will fund a $1.25 billion trade finance facility aimed at boosting trade in emerging markets over a three-year period. The facility will originate funding for local banks in Africa, Asia, Central and Eastern Europe, Latin America and the Middle East.

The bank estimates that the facility will support trade flows of up to $7.5 billion over three years.

We are very pleased to be establishing this important partnership with IFC to stimulate the recovery and...

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