The team will build on recent client work with a pipeline of over 30 transactions across South and Southeast Asia.

Bankers from Citigroup teams across Asia will support its social finance efforts in the region, which has included financing a partnership to mobilise affordable housing loans for low- and middle-income populations in Indonesia, the US bank said this week.

The Citi Social Finance team is an industry specialist group that provides expertise and supports clients’ efforts to expand access to basic services for underserved populations. The Asia-based bankers will span country management and businesses including corporate banking and commercial banking in Citi’s markets of Vietnam, Singapore, Indonesia, the Philippines, Malaysia, Thailand, India, Bangladesh and Sri Lanka, Citigroup said in a statement yesterday.

“The team will focus on solutions that improve the livelihoods of low-income communities. Asia is a market where we have a large and diverse pipeline across countries and sectors, including economic inclusion, healthcare, infrastructure, food security and education," Jorge Rubio Nava, global head of Social Finance at the bank, said.

The expanded focus on Asia will support Citigroup's work across social finance in the region. This has included $20 million funding to ASA Philippines to support their microfinance growth for women entrepreneurs; enabling digital connectivity with home credit in the Philippines and Indonesia; and financing farmers in India through a partnership with IndusInd, driving economic inclusion and food security. Citi said that it has also supported a social carbon offset offtake transaction in Vietnam, enabling low-income households to access energy-efficient cookstoves [generally burning wood or charcoat] and water purifiers, while providing employment opportunities for women in rural communities.

Citigroup said these transactions will support its commitment to finance and facilitate $1 trillion in sustainable finance by 2030. The lender said its efforts will drive economic progress for 15 million low-income households, including 10 million women, by 2025.