Citi says it has raised a record $7 million through the 2018 edition of its annual e for Education campaign. Launched in 2013 by Citi’s foreign exchange and local markets (FXLM), the initiative has raised $30 million over the past six years in support of several key projects focused on youth education and literacy.
The banks says that more than 300,000 students have been supported by the campaign globally through various initiatives spanning 28 countries worldwide including the development of more than 500 new schools serving 20,000 students in the US, the support of college fees for over 900 children of fallen patriots in the US, the creation of schools providing college preparatory education to almost 25,000 US students from underserved communities, the support of thousands of UK pupils affected by mental health issues, as well as education programmes enabling more than 130 million girls to attend school.
Citi’s FXLM business donates $1 for every $1million of FX that clients traded via a broad range of electronic platforms including its single-dealer platform Citi Velocity and CitiFX Pulse for corporate clients. For the first time this year, the campaign also included local market bonds, in addition to FX.
“Citi’s e for Education has given a huge boost to our work in youth education,” says Marta Cabrera, president of EMpower, one of the 10 non-profits supported by the campaign. “We have been able to expand and deepen our support of outstanding organisations in 15 countries world-wide, keeping girls in school in India, teaching computer and language skills in Africa and giving young people more opportunity for a better future. Citi’s support has been a game-changer, and has made a critical difference in the lives of thousands of young people.”
Nadir Mahmud, Citi’s global head of FXLM, adds, “We are delighted to have raised record funds for the 6th edition of the campaign. As we continue to gain momentum with this initiative, we are pleased to work with a growing number of non-profit partners to further support youth inclusion globally and facilitate equal access to education in the communities we operate in.”