NEW YORK: Citigroup Inc says it expects social finance funding in Asia to rise by more than 10% this year as investor demand increases.
The bank’s pipeline includes trade loans, securitisations, partnerships with development agencies and initial public offerings. Social finance aims to tap global capital markets to help fund programmes dealing with some of society’s most intractable problems, from affordable housing and education to food security and healthcare.
In some cases, foundations and development banks provide grants or willingly take below market-rate returns to attract more funding from private investors. Citi led 76 transactions in Asia last year, raising US$2.4bil, according to the bank. –– Bloomberg
