NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Wednesday, September 25, 2013

PRESS RELEASE: New York, September 25, 2013 /3BL Media/ – The Overseas Private Investment Corporation (OPIC) and Citi (NYSE: C) have agreed to use their existing framework lending facilities to deliver up to $200 million in financing for Citi’s multinational and local corporate and financial institution clients that are engaged in sectors such as microenterprise, agribusiness, affordable housing, clean energy, education and sanitation.

As financial institutions and other large corporations increasingly recognize micro and small enterprises as potential partners and clients, the OPIC/Citi financing will be used to fund transactions with micro and small corporate suppliers, self-employed individuals and smallholder farmers in rural areas in Africa, the Middle East, Asia, Eastern Europe, and Latin America.