OPIC and Citi Strengthen Partnership for Development Financing
By Elizabeth Littlefield, CEO and President, OPIC April 28, 2014 01:51 PM
Collaborating with a global institution like Citi allows OPIC to extend its impact and reach clients it might not otherwise reach. These risk-sharing agreements with Citi mean OPIC can move more swiftly to achieve our goals in regions where Citi already operates.
During our decade plus partnership, Citi and OPIC have executed 16 different frameworks totaling $2.8 billion in guarantee capacity. Loans previously guaranteed by OPIC through Citibank have supported large-scale infrastructure projects in underserved regions as well as $290 million in funding to networks of microfinance lenders to support the entrepreneurs who form the foundation of an emerging economy.
These new framework agreements expand this already successful partnership and include a $220 million loan facility for global inclusive finance. This Inclusive Growth agreement will promote business development, expansion and access to finance, supporting a wide range of institutions and strategies to expand market access, secure more sustainable and inclusive supply chains, offering diverse financial services to small producers, distributors and other underserved communities around the world.