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.
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 USD 1 trillion to sustainable finance by 2030, which includes USD 500 billion for environmental finance and USD 500 billion for social finance.
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.
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