Citigroup will on Monday unveil a $1.25bn funding tie-up with the International Finance Corporation, the World Bank’s private sector arm, as part of the bank’s $50bn global trade finance initiative announced in April. The partnership – the IFC’s second with a commercial bank since April – marks a new willingness by banks to finance trade in emerging markets. Under the deal, Citi will provide $750m to banks in Asia, the Middle East, Africa and Latin America over three years. IFC and other organisations will invest up to $500m in these transactions.

This entry was posted by Gwen Robinson on Monday, June 15th, 2009 at 5:02 and is filed under Capital markets. Tagged with citi, IFC. Edit this entry.