Citibank 2010 Annual Report Download - page 21

19
2010 Accomplishments
• Citi launched the $200 million Communities at Work Fund
with Calvert Foundation and Opportunity Finance Network.
In the U.S., the fund delivers critical financing to qualified
Community Development Financial Institutions to sustain and
grow small businesses across the U.S., drive job creation and
contribute to the economic recovery of communities that are
underserved by traditional financial institutions. By the end
of 2010, $100 million had been approved for lending in
communities across the U.S.
• Under a successful partnership launched in 2006, Citi and
the Overseas Private Investment Corporation thus far have
provided more than $246 million in funding to 29 MFIs across
16 countries. These have created microloans for more than
900,000 borrowers, 92% of whom are women.
• The Citi Foundation provided more than $67 million in
funding across 89 countries to support efforts that advance
financial inclusion and economic opportunity.
• In December 2010, the Citi Foundation announced it had
completed its 10-year, $200 million commitment to financial
capability three years ahead of schedule. Since the launch of
the commitment, the Citi Foundation has invested in
hundreds of financial capability programs around the world
and in research that has demonstrated that the most
effective programs are ones that combine knowledge-
building activities, access to appropriate financial products
and incentives to increase usage. These programs help
establish positive financial behaviors and encourage
individuals to take control of their financial future. The Citi
Foundation’s goal is to continue to invest in scalable and
innovative programs around the world that enable individuals
to adopt positive financial behaviors and accumulate and
preserve financial assets.
• With approximately one-third of the world’s population under
the age of 25, the Citi Foundation renewed its efforts to
expand educational and training opportunities that lead to
improved employment prospects for young adults. In the
U.S., the focus is specifically on increasing the number of
college graduates. Outside the U.S., the Citi Foundation also
invests in programs that enable young people to gain the
skills needed to successfully complete secondary school,
become employed in a living-wage job or start a small
business. In support of this effort, the Citi Foundation works
with Junior Achievement in 53 countries around the world,
providing $3.6 million in program funding. One current
project is to expand Junior Achievement‘s enterprise work
in sub-Saharan Africa and launch a new livelihoods program
targeting at-risk youth in Kenya, Ghana, Nigeria and
South Africa.
She County, Anhui Province, China During Global Community Day, Citi China volunteers helped build libraries and donated furniture and more
than 1,500 books for two local schools in Anhui Province, including the Fu Ling Elementary School.