Post by Citi

Citi and the IFC - International Finance Corporation, part of The World Bank Group, have announced a new 1.6 billion South African rand borrowing facility. This collaboration is set to enhance the IFC's capacity to provide local currency financing in South Africa, critical for stimulating private sector development and strengthening local capital markets. This facility has already supported the IFC's anchor investment in the pioneering Cape Water outcome-based bond, issued by South Africa's FirstRand Bank. Addressing currency volatility, this initiative aligns with Citi’s strategic focus on emerging markets. Read more here: https://on.citi/4cMCSR2.