IFC, Citi share $800m emerging markets trade finance facility
The International Finance Corporation and Citi have established an $800 million facility to facilitate trade finance in emerging markets. IFC and Citi will share the risk in a portfolio of trade-related assets on a 50-50 basis.
The transaction will help to support the flow of critical commodities in countries, where businesses face financing challenges and the disruption of cash flows due to the global outbreak of the coronavirus virus.
The signing marks the extension of an existing facility under IFC’s Global Trade Liquidity Program, bringing the size of the facility to $2 billion.