The proposed investment is a funded 50-50% risk-sharing facility with Citibank, N.A. (“Citi”) in a portfolio of trade-related assets for up to US$1.2 billion with IFC investment of up to US$600 million (the “Project”). The Project falls under the Global Trade Liquidity Program (GTLP), an innovative and well-received trade finance program launched by the International Finance Corporation (IFC) in 2009. The GTLP provides liquidity or guarantees thereby helping banks to more fully utilize their credit limits, manage risk and support trade in the emerging markets. The GTLP which is now part of the wider World Bank Group’s response to the global outbreak of coronavirus, will augment trade limits helping to support the continued flow of trade transactions and critical commodities in countries facing financing challenges and disruption of cash flow. Through the Project, IFC will play a countercyclical role during crisis, especially at times when other lending institutions or investors’ appetite may be subdued as negative economic impact is worsening in the rapid spread of COVID-19.
This project was categorized with a risk category of FI-3.
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