The proposed project, GTLP Citi IV, falls under the Global Trade Liquidity Program, a trade finance program launched by the International Finance Corporation in 2009. The Global Trade Liquidity Program provides liquidity or guarantees thereby helping banks to more fully utilize their credit limits, manage risk and support trade in the emerging markets. Since its launch, the GTLP Program has supported more than US$54.4 billion in trade (one third of which in IDA countries). The GTLP Citi IV project is a renewal of the existing GTLP Citi III transaction. GTLP Citi IV involves establishing a funded risk sharing facility with Citibank, N.A. (“Citi” or the “Bank”) for up to US$1.2 billion, with an IFC investment of up to US$600 million in a portfolio of trade finance assets (the “Project”).

The Project will be in an amount up to US$1.2 billion with an underlying portfolio of trade finance assets, risk-shared by Citi and IFC/Program Partners on a 50:50 basis.

There is often limited information publicly available about what development banks are funding through financial intermediaries. In 2021, the Early Warning System partnered with Oxfam International to incorporate information on high-risk projects being funded by financial intermediaries receiving funding from the International Finance Corporation (IFC) and the Dutch Development Bank (FMO).

The information listed below describes the relationship between the different private actors linked to high-risk sectors and subprojects of IFC and FMO's financial intermediary investments and/or the financial intermediary's parent companies made from 2017 through 2020, including any associated ring fences.

The database, however, does not explicitly or implicitly imply that IFC or FMO have material exposure to or are contractually or legally accountable to the sub-projects financed by their financial intermediaries or the financial intermediary's parent companies. It only shows a seemingly financial relationship among the different private actors, the financial intermediaries, and IFC or FMO.

The Bank’s parent, Citigroup Inc. is listed on the New York Stock Exchange and the Bolsa Mexicana de Valores.  Citi is rated ‘A+’, ‘A1’, and ‘A+’ by Standard & Poor’s, Moody’s and Fitch, respectively, with a positive outlook from Moody’s and a stable outlook from Standard & Poor’s and Fitch.  Shareholders with holdings larger than 5% include Blackrock, Inc. (7.33% stake); Vanguard Group, Inc. (7.09% stake), as of April 2018.

Citibank, N.A. 
Barbara Kobelt 
Vice President 
+1 212 816 1063 
Barbara.kobelt@citi.com 
388 Greenwich Street, 25th Floor, New York, NY 10013 
www.citi.com 

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/