Citi, Japan's Mitsui Among Banks Stepping Up Deals Blending Public and Private Funds
Citigroup Inc. and Sumitomo Mitsui Banking Corp. are among banks targeting new deals in the market for blended finance, defying a number of headwinds including a significant decline in government spending on development aid.
Deals blending public and private funds totaled $18 billion last year, down 21% from 2023, Convergence, a global network of more than 190 institutions and a data provider for blended finance, said in a report published on Wednesday. Over the past three years, banks doing the most blended-finance transactions include SMBC, Citigroup, BNP Paribas SA and Mitsubishi UFJ Financial Group Inc., it said.
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