Citi continues its support for Guatemala’s financial ecosystem with Social Trade Loans

Spanish

Guatemala - Citi structured a Social Trade Loan for Banco Agromercantil de Guatemala (Bam) to provide critical funding to small and medium enterprises (SMEs), promoting inclusive economic growth. This is the first Social trade loan with Grupo Bancolombia.<_o3a_p>

The amount approved is USD 30 million, which will go toward giving small businesses better access to financing to expand its activities.<_o3a_p>

"We are very proud to support initiatives that drive meaningful change and contribute to create sustainable, resilient communities across the country. With these productive credits we will help advancing the financial ecosystem and expand access to essential services," commented Julio Álvarez, Citi Country Officer of Citi Guatemala.<_o3a_p>

This transaction supports Citi's Social Finance goal to enable access to basic services and economic opportunities for 15 million low-income households, including 10 million women, in emerging markets and supports Citi's goal to finance and facilitate $1 trillion in sustainable finance by 2030 globally.<_o3a_p>

"This transaction represents a key boost in our support of small and medium-sized enterprises in Guatemala, allowing them to access resources that enhance their growth and development, and contribute to the generation of employment and economic well-being. We are committed to our purpose of promoting sustainable development for everyone's well-being," commented Manuel Chavez Rivera, Vice President of Finance of Bam.

Between 2022 and 2023, Citi closed 50 social finance transactions worth USD ~3 billion to expand access to basic services in underserved communities in Latin America and the Caribbean.

About Citi

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 the United States. 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.

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Media Contact:

Camila Sardi: [email protected]<_o3a_p>