Citi launches sustainable trade and working capital loans
(11 April 2022 – Global) Citi announced the launch of its Sustainable Trade and Working Capital Loans (T&WC Loans) solution, offering favorable pricing for loans used to finance international trade finance and day-to-day activities, if proceeds are used for sustainability-focused purposes.
The Sustainable T&WC Loans solution will launch in 80 countries across the Asia Pacific, Europe, Middle East and Africa (EMEA), and Latin America regions, with plans to roll out the program further across North America throughout 2022.
This new proposition follows the launch in November last year of Citi’s sustainability-linked supply chain finance programme in Asia Pacific, which offers cheaper financing to suppliers that hit sustainability indicators, and marks the latest in a series of ESG-related offerings by trade finance banks.
“Having leading ESG practices is core to Citi's mission of enabling growth and progress. It is embedded in how we do business and the value we deliver to clients. As our clients also place ESG front and center of their corporate agendas, we are working with them hand-in-hand to support the transition to sustainable and low-carbon business models. The Sustainable T&WC Loans add to Citi's growing suite of ESG-linked trade financing products and services and we remain committed to introducing new and innovative solutions for our clients in this area,” said Citi Treasury and Trade Solutions Asia Pacific Trade Head Kanika Thakur.
“Combined with our digital solutions, Citi’s sustainable T&WC loans allow clients to use loan proceeds for, or in connection with, ESG purposes,” said Citi head of EMEA trade and working capital business Peadar Mac Canna.
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