Banking News

Citi signs agreement to co-finance trade in developing markets

Citi signs agreement to co-finance trade in developing markets

(10 May 2018 – Asia) Citi has partnered with Asian Development Bank to co-finance trade in developing markets.

The two lenders will share risk and cooperate to support importers and developers in developing markets by co-financing $100m or more in trade through ADB’s Trade Finance Programme.

The Trade Finance Programme guarantees and loans to partner banks in an effort to support trade, import and export ambitions of companies.

John Ahearn, global trade head, Citi Treasury and Trade Solutions said, “As one of the world’s leading global trade banks, Citi is pleased to support this initiative to help fund trade with multinationals as well as SMEs in and out of developing markets.”

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