6. CLEAN WATER AND SANITATION

Citi Extends Trade Product Offerings with the Launch of Sustainable Trade and Working Capital Loans Solution – Business Wire

Written by Amanda

LONDON–()–Citi has today announced the launch of its Sustainable Trade and Working Capital Loans (Sustainable T&WC Loans) solution in Europe, Middle East and Africa (EMEA), Latin America (LATAM) and Asia Pacific (APAC) regions.

The launch follows the successful rollout of Citi’s Sustainable Supply Chain Finance offering, and represents the next step of the journey to expand Citi’s sustainable Trade and Working Capital Solutions as a key part of Citi’s broader commitment to advancing its Environmental, Social and Governance (ESG) agenda.

T&WC Loans assist Citi’s Corporate, Commodity, Financial Institution and Commercial Banking clients in managing their working capital needs, by financing their international trade finance activities and general day-to-day commercial activities, helping to improve liquidity.

The Sustainable T&WC Loans solution can also support clients with their sustainability goals, where the proceeds of the loan are used for an environmental or social purpose. Should certain sustainability criteria be met, the solution can provide clients a framework for incentivised pricing.

Peadar Mac Canna, Head of EMEA Trade and Working Capital business at Citi said: “Under Citi’s Trade and Working Capital business, we are closely working with our clients to support their supply chains and ecosystem transition to a sustainable, low-carbon business model that balances the environmental, social and economic needs of society. Combined with our digital solutions, Citi’s Sustainable T&WC Loans allow clients to use loan proceeds for, or in connection with, ESG purposes.”

Citi’s Sustainable T&WC Loans solution aligns with the bank’s commitment to integrating sustainability into its products, services and client offerings. To help accelerate the transition to a global low-carbon economy, Citi launched its updated Sustainable Progress Strategy in July of 2020, and also committed US$1 trillion to sustainable finance by 2030, which includes US$500 billion for environmental finance and US$500 billion for social finance.

“Companies around the world are increasingly looking at how to incorporate sustainable practices across their businesses,” said Davida Heller, Head of Sustainability Strategy, Citi. “At Citi, we are supporting our clients at every step of their journey with our products and services, and this extended working capital loan offering represents yet another tool in our toolbox to help our clients achieve their sustainability goals.”

The Sustainable T&WC Loans product will initially launch in 80 countries across the EMEA, LATAM and APAC regions, and will be further rolled out across North America throughout 2022.

-ENDS-

About Citi’s Treasury and Trade Solutions

Citi Treasury and Trade Solutions (TTS) enables our clients’ success by providing an integrated suite of innovative and tailored cash management and trade finance services to multinational corporations, financial institutions and public sector organizations across the globe. Based on the foundation of the industry’s largest proprietary network with banking licenses in over 90 countries and globally integrated technology platforms, TTS continues to lead the way in offering the industry’s most comprehensive range of digitally enabled treasury, trade and liquidity management solutions.

About Citi

Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.

Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi| Blog: http://new.citi.com| Facebook: www.facebook.com/citi| LinkedIn: www.linkedin.com/company/citi

Source: businesswire.com

About the author

Amanda

Hi there, I am Amanda and I work as an editor at impactinvesting.ai;  if you are interested in my services, please reach me at amanda.impactinvesting.ai