LONDON--(BUSINESS WIRE)--Citi (NYSE: C) has launched the 6th edition of its annual e for Education campaign, a global corporate social responsibility initiative which has raised over $22.5 million for education-focused non-profits since 2013.
During the 9-week campaign, Citi's Foreign Exchange and Local Markets business will donate $1 for every $1 million traded with Citi via a broad range of electronic platforms including Citi’s proprietary platforms- Citi Velocity for institutional clients and CitiFX Pulse for corporate clients. For the first time this year, the campaign will include local market bonds, in addition to FX.
Since its inception in 2013, Citi’s e for Education campaign has supported over 250,000 youth globally and contributed to the success of several key initiatives supporting youth education, including the development of more than 400 schools across more than 20 countries worldwide. This year, Citi has expanded the number of non-profits with three additional partners, Malala Fund, Place2Be and Reach the World, bringing the total of non-profit organizations supported by the campaign to 10:
- Civic Builders: develops high-performing charter schools where need is greatest across the U.S
- EMpower: supports at-risk youth in emerging market countries
- Fallen Patriots: provides college scholarships and educational counselling to North American children who have lost a parent in the U.S. military
- Malala Fund: invests in education programmes and breaks down the barriers preventing more than 130 million girls around the world from going to school
- Place2Be: enhances the wellbeing and prospects of children and their families by providing access to therapeutic and emotional support in schools
- Reach the World: makes the benefits of travel accessible to classrooms, inspiring youth to become more curious, confident global citizens
- Room to Read: focuses on increasing literacy and gender equality in education in low-income countries
- SkillForce: uses veterans’ skills to help young people flourish at school in the UK
- Teach First: trains and support committed individuals to become inspirational classroom leaders in low-income communities across England and Wales
- Uncommon Schools: starts and manages 52 public charter schools serving 18,000 students in the US to prepare low-income students to graduate from college
“Reach the World's virtual exchange programs help impoverished and isolated youth to become curious, confident and compassionate global citizens who are prepared to thrive in today’s global economy”, Heather Halstead, Founder and Executive Director of Reach The World, said. “Thanks to Citi’s e for Education campaign, Reach the World will expand its service to three states in rural America, and lay the groundwork for service to five countries worldwide."
In addition to the donations raised on the back of electronic trading activity, Citi clients and employees also support the selected non-profits through a series of educational activities including CV clinics, mock interviews, trading simulation, visits to the trading floor, career symposiums, financial literacy workshops and economics lessons.
“We are pleased to expand the scope of Citi’s e for Education campaign and welcome additional partners to further support youth education in the local communities we operate in,” Nadir Mahmud, Citi’s Global Head of Foreign Exchange and Local Markets said. “With an estimated 260 million children failing to acquire basic literacy skills worldwide1, we have a crucial responsibility to invest in the next generation by facilitating access the essential resources that young people need to realize their full potential.”
Additional information about the campaign may be found at www.citifx.com/e4e
Notes to Editor
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
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1 Unesco Global Education Monitoring Report
For more information on direct impact of education levels on economic wellbeing, please refer to Citi’s Research GPS report: Education : Back to Basics