Citi Closed a Transaction to Support Financial Inclusion in El Salvador

San Salvador - Citi, a financial institution with a 60-year presence in El Salvador, structured a social impact and trade loan for Banco Cuscatlán that will channel productive credit to small and medium enterprises (SMEs). The funds will finance activities linked to the local economy, promoting inclusive economic growth in the country.  

The loan marks Citi’s first social trade transaction of this type for a Salvadoran financial institution and is part of the bank’s international commercial loan offering. The amount approved is USD 15 million, which will go toward giving small businesses better access to financing they can use to expand their operations, contribute to the economy, and create jobs.

“This loan demonstrates Citi’s capacity to adapt its foreign commercial and working capital products to help its clients reach their social and sustainability goals, with a direct impact on communities in our country and the region,” commented Ana Cristina López, Citi Country Officer of Citi El Salvador.

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.

“As a financial institution committed to strengthening SMEs, we are grateful for Citi’s support as one of our strategic international financing partners. This new credit will allow us to continue offering financial tools that promote economic development,” remarked José Eduardo Luna, Executive Director of Banco CUSCATLÁN El Salvador.

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 more than 180 countries and jurisdictions, providing corporations, governments, investors, institutions, and individuals with a broad range of financial products and services.  

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