RTTNews | Oct 28, 2021 09:45AM EDT

09:44 Thursday, October 28, 2021 (RTTNews.com) - Citi said it will offer the inaugural Citi Social Finance Bond, a $1 billion bond that supports social-focused developments in emerging markets around the world. The bond offering is expected to settle on November 3, 2021.

The use of proceeds from the bond will finance a range of projects, including those that expand access to financial services, affordable housing, basic infrastructure, healthcare, and education in underserved and unbanked communities in emerging markets.

Citi noted that the bond supports its $1 trillion commitment to sustainable finance announced earlier this year, which includes $500 billion for social finance and $500 billion for environmental finance by 2030, aligning with the agenda of the United Nations' Sustainable Development Goals.

As part of the $500 billion goal for social finance, Citi aims to expand access to essential services for 15 million households, including 10 million women, within the first few years of its 2030 commitment.

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