PROJECT

Projects

Summary of Investment Information

Project Number

47728

Company Name

GSCF Citi

Date SPI Disclosed

Apr 28, 2023

Country

World Region

Region

Global

Projected Board Date

May 30, 2023

Environmental Category

FI-2 - Limited

Status

Pending Approval

Last Updated Date

Apr 28, 2023

Department

CTSPD - Global Trade & Supply Chain/Trade & Supply Chain, Products

Industry

Financial Markets

Sector

Commercial Banking - Trade and Supply Chain

Project Description

The proposed investment is a funded risk-sharing facility with Citibank, N.A. (“Citi”) in a portfolio of supply chain finance-related assets for up to US$300 million with IFC investment of up to US$150 million (the “Project”).

 

The Project falls under the Global Supply Chain Finance (GSCF) Program, a supply chain finance program launched by the International Finance Corporation (IFC) in December 2022. The GSCF supports open account trade in the emerging markets by providing funded or unfunded risk participation in partner banks’ facilities.

 

The project is part of a crisis response initiative, through which IFC plays a countercyclical role when the markets experience the turbulence due to the negative economic impacts of the ongoing global food and energy crisis.

Associated Advisory Engagement

                                    

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation