Citi Announces $1 Billion Social Finance Bond Offering to Advance Social Initiatives Globally
Proceeds to Expand Access to Financial Services,
Citi to Expand Access to Essential Services for 15 Million Households, Including 10 Million Women, Globally by 2025
The Citi Social Finance Bond builds upon Citi’s expertise in inclusive finance and deepens efforts to drive positive social impact and financial innovations. The bond supports Citi’s
“The Citi Social Finance Bond is a great example of how we’re using our business capabilities to maximize the impact we can make as a bank, especially as we support emerging markets in their recovery from COVID-19,” said
To help meet its
The bond offering follows the release of the new Citi Social Finance Framework, one of the world’s first global social finance frameworks focused on enabling financial inclusion, affordable housing and access to essential services in emerging markets. The framework details how projects and assets will be selected, and Citi will report annually on the use of funds and impact. Sustainalytics, an independent provider of sustainability research, analysis and services to financial institutions globally, has reviewed the Framework and confirmed in their assessment the alignment with the transparency and reporting requirements of the ICMA Social Bond Principles 2021.
“This bond is a first-of-its-kind offering that covers an expansive portfolio of assets across a breadth of emerging markets, allowing us to strengthen our relationships with clients and investors around the world and grow Citi’s sustainable bond offering,” said
These efforts follow Citi’s inaugural
Citi has been a longstanding global leader in financial inclusion. The expansion of Citi Social Finance builds on a 15-year track record of developing new business models that leverage market-based approaches to improve the livelihoods of low-income communities in emerging markets. To date, these efforts have reached 4 million unbanked and underbanked individuals in emerging markets, 3.5 million of which are women.
For example, Citi was recently the sole coordinator on a
“Across the globe, billions of people lack access to basic services. Citi Social Finance has a mandate to deepen our work and build new innovative partnerships with corporate clients, using our unparalleled global footprint to drive social impact with the urgency that so many low-income communities need,” said
Citi Social Finance is a part of Global Public Affairs’ Community Investing and Development team, which aims to enhance positive social impact and financial innovations that benefit underserved communities around the world. This includes the work of the
For more information, visit citi.com/socialfinance.
Citi
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://blog.citigroup.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi.
View source version on businesswire.com: https://www.businesswire.com/news/home/20211028005743/en/
Media
stephanie.hyon@citi.com
212-816-3397
Source: Citi