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Team will build on recent client work with pipeline of over 30 transactions across South & Southeast Asia
HONG KONG and SINGAPORE, Sept. 12, 2023 /PRNewswire/ -- Over 20 bankers from Citi's existing teams across Asia will further support Citi's social finance efforts in the region. The Citi Social Finance team is a globally dedicated industry specialist group that provides subject matter expertise and supports clients' efforts to expand access to basic services for underserved populations.
The Asia-based bankers will span country management and businesses including corporate banking and commercial banking in Citi's markets of Vietnam, Singapore, Indonesia, the Philippines, Malaysia, Thailand, India, Bangladesh and Sri Lanka.
Each country has dedicated social finance champions who partner with the businesses to develop pioneering programs and debt solutions including term debt, bonds, IPOs, securitizations as well as partnering with development agencies and impact investors.
"Citi is uniquely positioned to enable clients and partners to scale the delivery of products and services that improve the livelihoods of underserved and low-income communities across the emerging markets. The team will focus on solutions that improve the livelihoods of low-income communities. Asia is a market where we have a large and diverse pipeline across countries and sectors, including economic inclusion, healthcare, infrastructure, food security and education. We are excited about the opportunities we have to use our network to support local communities further," said Jorge Rubio Nava, Global Head of Social Finance.
The expanded focus on Asia will further support Citi's growing work across social finance in the region in recent years.
This has included financing a partnership to mobilize affordable housing loans for low- and middle-income populations in Indonesia; US$20m funding to ASA Philippines to support their microfinance growth to women entrepreneurs; enabling digital connectivity with Home Credit in the Philippines and Indonesia; and financing farmers in India through a partnership with IndusInd, driving economic inclusion and food security. Citi also supported a pioneering social carbon offset offtake transaction in Vietnam, enabling low-income households to access energy efficient cookstoves and water purifiers, while providing employment opportunities for women in rural communities.
These transactions will support Citi's commitment to finance and facilitate US$1 trillion in Sustainable Finance by 2030, and this activity intends to help advance the United Nations Sustainable Development Goals. These efforts in Asia will also contribute towards Citi's global efforts to support economic progress for 15 million low-income households, including 10 million women, by 2025.
For questions, please reach out to James Griffiths at james.a.griffiths@citi.com