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Asian Development Bank, Citigroup in risk-sharing agreement

Asian Development Bank signed a $100 million risk-sharing agreement with Citigroup Inc. to promote trade in developing markets across Asia.

ADB said the agreement is part of its Trade Finance Program that supports the funding needs of small and medium-sized enterprises to promote growth and job creation in Asia.

Citigroup has been working with ADB on trade finance since 2009, the policy lender added.