Business Wire

NY-CITI

Share
Citi, IFC and Global Bank Partner to Finance Women’s Economic Empowerment in Panama

Citi, Global Bank and the International Finance Corporation (IFC) have partnered to provide more mortgages and Small Medium Enterprise (SME) business loans to women.

The joint initiative offers a first-of-its-kind co-lending transaction of a $90 million loan ($20 million funded by Citi for three years and $70 million funded by IFC for five years) to Global Bank. The proceeds from this loan will be used for either Low Income Housing Mortgages–Hipoteca Preferencial–for women as heads of household or for women-owned and-or women-led enterprises. In addition, Global Bank will also partner with IFC Advisory Services to further enhance and develop gender-focused products and services in Panama.

“It’s an honor to support groups and institutions that seek to broaden women empowerment across the region as well as to place women at the center of Panama’s recovery from the coronavirus pandemic,” said Marcelo Gorrini, Caribbean and Central America Cluster Head and Panama Citi Country Officer. “This isn’t just any kind of deal but one we see has the real ability to make a difference in the lives of people by providing them with this targeted funding while championing women empowerment.”

Across the world, the struggle for the overall equality and economic empowerment of women has persisted for many generations and has become more acute as the effects of the COVID-19 pandemic disproportionally impacted more women in the workplace than men. This has been no different in Panama, with 46.5% of employed women working in sectors most impacted by the crisis, compared to 29.6% of employed men.

“There has been growing interest for housing projects that qualify for preferential interest rates, and there is a need to adjust the supply,” said Jorge Vallarino, CEO of Global Bank. “We have been steadily growing our mortgage portfolio, with almost half of it focused on low- and middle-income families,” Vallarino added.

“For Citi, this ESG transaction is a win across the board and exemplifies how Citi succeeds together, one of our leadership principles, in our client’s interests, namely Global Bank in Panama and the IFC as the largest development institution focused on private sector in developing countries,” said John Finnigan, Banking, Capital Markets and Advisory Managing Director, Citi. “We can truly say we are delivering with pride together with our clients and with the ultimate benefit of on-lending and creating economic value for women in Panama.”

This successful transaction serves as a template for future deals Citi and IFC seek to replicate as it embodies IFC’s and Citi’s commitment to ESG .

About Citi

Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.

Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://blog.citigroup.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi

About Global Bank

Global Bank is a Panamanian capital bank that began operations in 1994, initially focused on the corporate banking segment. Currently, Global Bank and its subsidiaries offer a wide range of financial services to its more than 200,000 clients throughout Panama, positioning itself as the second largest bank with a general license of Panamanian capital. It has assets of $8,516 million, a net worth of $782 million and 39 branches nationwide.

About IFC

IFC—a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2020, we invested $22 billion in private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity.

Link:

ClickThru

About Business Wire

Business Wire
Business Wire
101 California Street, 20th Floor
CA 94111 San Francisco

http://businesswire.com

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

The Coca-Cola Company Names New Leader for Europe Operating Unit18.7.2025 21:00:00 CEST | Press release

The Coca-Cola Company today announced that Luisa Ortega will become president of the Europe operating unit effective Sept. 1, succeeding Nikos Koumettis, who will retire in 2026 after a 25-year career with the company. Koumettis will remain with the company through Feb. 28, 2026, as a senior advisor. He will also serve on the board of directors of Hindustan Coca-Cola Beverages Pvt. Ltd., a company-owned bottler in India. Ortega joined Coca-Cola in 2019 and currently serves as president of the Africa operating unit. In this role, she leads a complex business that operates across 54 markets. Koumettis has led the Europe operating unit since it was created in 2021. “Luisa has done an outstanding job leading our African business, where our system has continued to make major investments to serve growing markets on the continent,” said Henrique Braun, Executive Vice President and Chief Operating Officer of The Coca-Cola Company. “As head of Europe, she will bring great international experien

NFL Running Back Derrick Henry Joins Amazfit as Athlete Ambassador18.7.2025 15:00:00 CEST | Press release

Henry to utilize Amazfit products to optimize health, recovery and performance as he enters his 10th NFL season Amazfit, a leading global smart wearables brand owned by Zepp Health (NYSE: ZEPP), announced Baltimore Ravens running back Derrick Henry as the newest elite athlete to join its growing roster of ambassadors. Known for his rare combination of speed and strength, Henry will utilize Amazfit wearables to power every phase of his training, recovery and sleep as he prepares for his 10th NFL season. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250718322498/en/ Derrick Henry is the newest elite athlete to join Amazfit's growing roster of ambassadors. As one of the most prolific running backs of his generation, Henry has amassed an impressive array of accolades during his career, including NFL Offensive Player of the Year, two rushing titles, and five Pro Bowl selections. With Amazfit as his official smart wearable partne

Qualcomm Announces Quarterly Cash Dividend18.7.2025 15:00:00 CEST | Press release

Qualcomm Incorporated (NASDAQ: QCOM) today announced a quarterly cash dividend of $0.89 per common share, payable on September 25, 2025, to stockholders of record at the close of business on September 4, 2025. About Qualcomm Qualcomm relentlessly innovates to deliver intelligent computing everywhere, helping the world tackle some of its most important challenges. Building on our 40 years of technology leadership in creating era-defining breakthroughs, we deliver a broad portfolio of solutions built with our leading-edge AI, high-performance, low-power computing, and unrivaled connectivity. Our Snapdragon® platforms power extraordinary consumer experiences, and our Qualcomm Dragonwing™ products empower businesses and industries to scale to new heights. Together with our ecosystem partners, we enable next-generation digital transformation to enrich lives, improve businesses, and advance societies. At Qualcomm, we are engineering human progress. Qualcomm Incorporated includes our licensin

MultiBank Group Confirms $MBG Token Listings on MEXC and Gate.io on TGE Day in Addition to MultiBank.io and Uniswap18.7.2025 14:34:00 CEST | Press release

MultiBank Group, the world’s largest & most regulated financial derivatives institution, is proud to announce that its highly anticipated $MBG Token will be listed on two new major global cryptocurrency exchanges — MEXC and Gate.io — on the day of its official Token Generation Event (TGE), July 22, 2025, in addition to MultiBank.io and Uniswap. The $MBG Token will go live on: MultiBank.ioGate.ioMEXCUniswap This new dual listing will allow millions of users across both exchanges to seamlessly access and trade $MBG using their existing accounts, ensuring immediate market participation at launch. The Token Generation Event (TGE) is now approaching following the successful completion of two pre-sale rounds, where MultiBank Group issued 7 million tokens in Round 1 and 3 million tokens in Round 2 — both of which sold out within minutes. Naser Taher, Chairman and Founder of MultiBank Group said “With $MBG, we’re introducing a utility token built to deliver real-world value, transparency, and

SLB Announces Second-Quarter 2025 Results18.7.2025 12:50:00 CEST | Press release

Revenue of $8.55 billion increased 1% sequentially and decreased 6% year on year GAAP EPS of $0.74 increased 28% sequentially and decreased 4% year on year EPS, excluding charges and credits, of $0.74 increased 3% sequentially and decreased 13% year on year Net income attributable to SLB of $1.01 billion increased 27% sequentially and decreased 9% year on year Adjusted EBITDA of $2.05 billion increased 2% sequentially and decreased 10% year on year Cash flow from operations was $1.14 billion and free cash flow was $622 million Board approved quarterly cash dividend of $0.285 per share SLB (NYSE: SLB) today announced results for the second-quarter 2025. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250716727689/en/ The exterior of the SLB headquarters in Houston, Texas. Second-Quarter Results(Stated in millions, except per share amounts)Three Months EndedChangeJun. 30, 2025Mar. 31, 2025Jun. 30, 2024SequentialYear-on-yearReve

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom
World GlobeA line styled icon from Orion Icon Library.HiddenA line styled icon from Orion Icon Library.Eye