IFC and Citibank sign $1.2bn deal to support trade in emerging markets

The International Finance Corporation and Citi have signed a $1.2 billion risk-sharing facility to help stimulate the growth of trade in emerging markets and to support economic development. IFC and partners will contribute $600 million, and Citi will provide an additional $600 million. This initiative will work in partnership with global and regional banks to increase the availability of trade finance. The signing marks the extension of an existing facility under IFC’s Global Trade Liquidity Program, first launched by IFC and Citi in 2009.