Citi to Offer Banco Bolivariano Ecuador's First Social Finance Product Benefiting Women-Led SMEs
Quito, Ecuador - Citi is pleased to announce an inaugural program to Banco Bolivariano in Ecuador. Citi will act as the confirming bank for letters of credit, for Banco Bolivariano, issued to... Citi has announced its first program to benefit women-led SMEs in Banco Bolivariano Ecuador, offering to the bank for letters of credit for women who meet related eligibility criteria. The transaction will support women- Led SMEs and aligns with Citi's membership in 2X Global, an initiative by the G7 countries that mobilizes women in developing countries. This financing contributes to Citi’s commitment to sustainable financing by 2030 and progress toward several SDGs, including Goal 1, eliminating poverty, gender equality, and Goal 8, decent work and economic growth. Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market.
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- Citi is pleased to announce an inaugural program to in .
Citi will act as the confirming bank for letters of credit, for , issued to women-led (SMEs) that meet related eligibility criteria.
This social finance transaction will help support women in and aligns with Citi's membership in 2X Global, an initiative launched by the G7 countries that has mobilized more than to date for projects that empower women in developing countries.
'Citi's social finance strategy aims to give 15 million people, 10 million of them women, increased access to essential services (including financing) that they can put toward developing their businesses and increasing economic empowerment. This is the first transaction of its type in , and we hope it will serve as a model that can be replicated with our partners in other regions,' commented , Citi Country Officer and Banking Head in .
This financing contributes to Citi's commitment for sustainable financing by 2030, and to progress toward several (SDGs), including Goal 1, eliminating poverty; Goal 5, gender equality, and Goal 8, decent work and economic growth.
'This deal represents Citi's first letter of credit confirmation program supporting social finance goals to support institutional clients. The program demonstrates Citi's ability to tailor its foreign trade and working capital products to help our clients reach their sustainability goals, especially those with a social focus, with a direct impact on and communities,' remarked , Citi's Director of Trade, and Trade Solutions for .
Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of . Citi does business in nearly 160 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.
Additional information may be found at www.citigroup.com | Twitter: @Citi | LinkedIn: www.linkedin.com/company/citi | YouTube: www.youtube.com/citi | Facebook: www.facebook.com/citi
was founded in 1980 with solid indicators and has maintained the highest levels of asset quality, profitability and liquidity in the Ecuadorian financial system ever since. Innovative processes, products and services, along with a strong social commitment, have ensured it a prominent role in the industry for more than 40 years. A high level of public trust and client fidelity have allowed to continue its mission of driving the country's sustainable growth passionately and responsibly. For more information, please visit http://www.bolivariano.com.
トピック: Markets, Ecuador