47963 - GSCF Citi II

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Summary of Investment Information

Project Number

47963

Company Name

BANCO CITI MEXICO, S.A., INSTITUCION DE BANCA MUTIPLE, GRUPO FINANCIERO CITI MEXICO

Date SPI Disclosed

Nov 28, 2023

Country

World Region

Region

Global

Projected Board Date

Dec 28, 2023

Environmental Category

FI-2 - Limited

Status

Pending Disbursement

Last Updated Date

Nov 19, 2025

Department

Global Trade & Supply Chain

Industry

Financial Markets

Previous Events

Approved : Dec 15, 2022
Signed : Jun 27, 2025

Sector

Trade Finance

Project Description

The proposed investment is an unfunded risk-sharing facility with Citibank, N.A. (“Citi”) in a portfolio of supply chain finance-related assets for up to US$500 million with IFC investment of up to US$250 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 markets experience turbulence due to the negative economic impacts of the ongoing global food and energy crisis.

Associated Advisory Engagement

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee	0.0
Loan	3115.0
Equity

Development Impact

IFC's additionality is driven largely by its countercyclical role when the markets experience the negative impact due to the crisis. Under the GSCF, IFC will provide funded or unfunded risk participation in partner banks’ facilities given: (i) IFC's track record of crisis response efforts; (ii) its network of partner banks that support global emerging markets; (iii) its set of programs aimed at investing both large scale and transactional financing for trade and supply chain finance in emerging markets; and (iv) its ability to support private sector beneficiaries to address liquidity constraints in response to the market shocks.

E&S Category Rationale / Risks and Mitigation

The Project will support short-term financing of suppliers of a portfolio of Buyers in Mexico in a variety of sectors. Potential environmental and social risks associated with supply chain finance activities are typically associated with production of goods and commodities, supply chain management and reputational risks. These may include: child and forced labor, Gender-Based Violence and Harassment, Occupational Health & Safety, wages, overtime, and overall safe and fair employment conditions, LFS protection including emergency response, emissions to air and water, hazardous materials, resource use efficiency and biodiversity risks. E&S risks could also derive from the client's ability to assess and manage supply chain risks of the Buyers to be supported under the Project. Overall, the E&S risks are expected to be of a medium nature and therefore the project is categorized as FI-2 according to IFC's Sustainability Policy. The Project will not support activities related to coal, oil and gas, as well as higher risk activities that may include: a) involuntary resettlement, b) risk of adverse impacts on indigenous peoples, c) significant risks to or impacts on the environment, community health and safety, biodiversity, cultural heritage or d) significant occupational health and safety risks. In addition, IFC may review individual Buyers based on their E&S risk.

Contacts

For Inquiries About the Project, Contact

Citibank
Dustin O. Ling
Director
+1 212 816 9187
lingd@citi.com
388 Greenwich Street, 36th Floor, New York, NY 10013
www.citi.com

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For IFC projects that are active or under consideration, individual(s), or their authorized representative(s), who allege they have been or will be adversely affected by E&S risks or impacts arising from IFC's clients' business activities, may submit a complaint to IFC directly for consideration. When receiving an E&S complaint, IFC engages with complainants and works with its clients to find solutions to E&S concerns as quickly and efficiently as possible.

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CAO receives and addresses complaints in accordance with the CAO Policy, which can be accessed at: https://www.cao-ombudsman.org/policies-guidelines.

This Summary of Investment Information (SII) is prepared by IFC to disclose a factual summary of the main elements of the potential investment. It also includes findings and recommendations related to environmental and social considerations regarding this potential investment. The purpose of the SII is to enhance the transparency of IFC’s activities. For any project documentation or data included or attached herein, whether prepared by the project sponsor or otherwise, authorization has been given for public release by the project sponsor. IFC considers that this SII is of adequate quality for release to the public, but has not necessarily independently verified all of the project information therein. It is distributed in advance of IFC Board of Directors’ consideration and may be periodically updated thereafter. Board dates are estimates only and this document should not be construed as presuming the outcome of the Board Directors’ decision. The following SII is disclosed in accordance with IFC's Access to Information Policy (AIP) that went into effect on January 1, 2012.

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