This project is still under review by the EWS. Project information and/or project analysis may be incomplete.
GTLP Citi III (IFC-36386)

Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Borrower
CITIBANK N.A.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Investment Amount (USD)
Not Disclosed
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Other Related Projects
Primary Source

Original disclosure @ IFC website

Disclosed by Bank Feb 3, 2015

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.
The proposed project falls under the Global Trade Liquidity Program (&#8220;GTLP&#8221;), an innovative and well received trade finance program launched by the International Finance Corporation (&#8220;IFC&#8221;) in 2009. The GTLP provides liquidity or guarantees thereby helping banks grow their credit limits, manage risk and support trade in the emerging markets. Since its launch, the GTLP has supported more than US$36 billion in trade (one third of which in IDA markets) involving over 13,000 SMEs. <br><br>The proposed project involves establishing a funded risk sharing facility (the &#8220;Facility&#8221;) with Citibank N.A. (&#8220;Citibank&#8221; or the &#8220;Bank&#8221;) for the purpose of providing short term trade financings to various emerging market issuing banks.
People Affected By This Project
People Affected By This Project refers to the communities of people likely to be affected positively or negatively by a project.
The Facility is expected to have the following development impacts:<br>- Increased access to finance: The project will increase access to finance for the Emerging Market importers and exporters. Improved availability of credit is expected to benefit producers and importers along the value chain and therefore support growth, sustain employment, and encourage the generation of higher incomes.<br>- Strong demonstration effect by catalyzing other Development Finance Institutions (&quot;DFIs&quot;) to support Emerging Market trade finance: By supporting Emerging Market finance in partnerships with banks, the facility could have a significant demonstration impact on local market development, and encourage greater local/regional bank participation in trade finance which could ultimately increase access to finance for importers and exporters.
Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.
ACCOUNTABILITY MECHANISM OF IFC The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/

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