Moves to unblock world trade flows still jammed by the credit crunch have been backed by Citigroup, which today unveils a $1.25bn funding tie-up with the International Finance Corporation, the private sector arm of the World Bank.
Citi and the IFC are launching the partnership as part of a $50bn global trade finance initiative announced by the World Bank in April.
The tie-up – the second the IFC has entered into with a bank in recent months since April – marks a new willingness by banks to finance trade in emerging markets.
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