IFC and Citi Launch $2 Billion Program to Bolster Sustainable Supply Chain Finance in Emerging Markets
Largest Project to Date Under IFC's Global Supply Chain Finance Program
Collaboration Marks First Pilot Under GSCF, Building on Previous Successful Finance Programs
WASHINGTON, DC (March 8, 2023) - The International Finance Corporation (IFC), a member of the World Bank Group, and Citi today announced a $2 billion program to support sustainable supply chain finance in emerging markets. The program is the largest project to date under IFC's Global Supply Chain Finance Program (GSCF), which was launched in 2022.
The collaboration with Citi marks the first pilot under GSCF and builds on previous successful finance programs. It is an important milestone for IFC's efforts to promote sustainable supply chains and support businesses in emerging markets.
The program will provide financing to eligible businesses in emerging markets, with a focus on small and medium-sized enterprises (SMEs), to support sustainable practices and improve supply chain resilience. It will also provide technical assistance to help businesses adopt sustainable practices and improve their financial management.
The program is part of IFC's broader commitment to sustainable supply chains. In its recent ESG report, IFC reported that it had reached $441 billion toward its $500 billion goal by the end of 2023.
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