The company will use the money to finance renewable energy projects and green initiatives like managing waste and making buildings energy efficient.
It is part of the bank’s new five-year sustainability commitment which also focuses on its environmental and social risk management as well as sustainability plans.
The company plans to reduce greenhouse gas emissions by 35%, reduce energy and water use by 30% and waste by 60% by the end of 2020, all against a 2005 baseline.
The initiative also includes about 80% cut in GHG emissions by 2050. Citi said it is on track to meet its 2015 goals of reducing water usage by 20%.
Citi chief executive officer Michael Corbat said: "Citi has demonstrated its deep commitment to not only taking environmental consequences into account, but also finding innovative ways to finance projects that lead to sustainable growth.
"For more than 200 years, Citi’s mission has been to enable progress by facilitating economic growth and financing transformative projects.
"Incorporating the principles of sustainability into everything we do improves our own operations, enhances our clients’ work, and contributes to a better world."
