Citi Announces a Community Response Plan in Singapore as its Global COVID-19 Community Relief Efforts Exceeds US$ 65 Million, Business News

PUBLISHED ONJune 02, 2020 8:49 AM

8,500 strong employee base in Singapore come together to support the needs of migrant workers, youths and other vulnerable communities

SINGAPORE, June 2, 2020 /PRNewswire/ -- Citi (NYSE: C) announced today its three key initiatives in supporting COVID-19-related community relief efforts in Singapore. These initiatives will mark Citi's 15^th Global Community Day (GCD) and demonstrates its ongoing commitment to giving back to the communities where we live and work:

Food for marginalized communities – Philanthropic support from Citi Foundation amounting to US$ 150,000 to provide over 45,000 complimentary meals and grocery packs for low-income families, students, vulnerable elderly, persons with special needs, and migrant workers over a three-month period through the Food For Good programme in partnership with YMCA of Singapore;
Supporting students from disadvantaged background – Committing S$ 150,000 to support students from disadvantaged background with daily allowance through the Straits Times School Pocket Money Fund (STSPMF), and access to education through Business Times Budding Artists Fund (BTBAF);
Support for migrant workers – Organisation-wide fundraising campaign for Humanitarian Organization for Migration Economics (HOME) in support of migrant workers in areas such as immediate basic needs, medical and counselling assistance to shelter residents, and supplementing hygiene supplies like masks and hand sanitisers;

Citi Singapore's efforts are aimed at helping to deliver immediate relief to frontline workers and populations within communities most impacted, as well as longer-term community investment that focuses on continued access to food and education.

Commenting on Citi's long history in Singapore since 1902, ASEAN Head and Citi Country Officer for Singapore, Amol Gupte said, "Citi once again pledges its unwavering commitment to serve the local community, and to respond quickly to relief work on the ground. We will continue to demonstrate Citi's values through our philanthropic efforts and core business activities in Singapore to make a difference to those in need."

Food For Good

YMCA of Singapore has been a long term partner of Citi Singapore since 2003. Through the "Food for Good" programme, YMCA of Singapore will provide food and grocery packs for the vulnerable communities. To deepen the programme's impact by supporting businesses that have been adversely affected by the pandemic, meals will be purchased from hawkers around the estates of the identified clients, and taxi drivers and private car hirers will be engaged to provide delivery services for the meals and groceries. Close to 900 individuals are expected to be assisted through the programme.

STSPMF & BTBAF

Citi Singapore has been a key supporter of STSPMF since 2003 and BTBAF since 2005, and will continue to stand by its commitment to help students from disadvantaged backgrounds with their basic schooling needs, and to grow in confidence and overcome their personal circumstances through access to arts training. In 2019, over $650,000 was raised for the two funds through a bank-wide fundraiser and the Citi & Partners Charity Golf event.

HOME

A month long bank-wide fundraising campaign "Citi Supports HOME" has been initiated by volunteer-driven group, CitiClub Singapore, to provide employees with an avenue to give back to the community. Donations from the campaign will aid HOME in responding to the many challenges this pandemic has brought to our local migrant worker community – some who earn wages as meagre as S$400 a month. While many non-government organisations (NGOs) have slowed their operations drastically during the "Circuit Breaker" period, HOME continues to have access to migrant workers through helplines to provide direct services of food and medical supplies.

Double the Good

Citi has also launched a "Double the Good" employee donation-matching initiative globally. For every US$1 donated by a Citi employee in support of any COVID-19 relief, Citi will donate US$1 to one organization in each of Citi's four regions in which it operates. In Asia, Citi will contribute to the United Nations Development Programme (UNDP). Employee donations made between January 1 and May 31, 2020 are eligible, and Citi will donate up to US$ 500,000 to UNDP. Citi's support will be utilized for the most vulnerable and marginalized communities across the region, including families below the poverty line, women at risk and migrant workers providing socio-economic recovery and livelihood support, including food rations, medical supplies and personal protection equipment to those most impacted from COVID-19.

In addition, Citi has also raised US$ 1 million in Asia Pacific in an effort to further support the UNDP. The fund-raising was a joint effort by several Markets and Securities Services businesses including Regional Cash Equities, Rates & Currencies, and Corporate Sales & Solutions, to donate a percentage of their revenues during the campaign period of May 18-22.

At a global level, Citi's relief efforts have exceeded US$ 65 million for communities impacted by COVID-19. These includes Citi presence countries across North America, Latin America, Europe, Middle East and Africa and the Asia Pacific. (See Appendix)

Citi's contributions also make a significant mark on its annual Global Community Day, which has taken on a virtual form this year. The annual Global Community Day is a single day that brings Citi staff, families and partners from around the world together to signal a joint contribution to the community. With COVID-19, activities such as our giving to the community has taken on a special meaning; instead of designating a particular day to mark its 15th Global Community Day, Citi encourages its employees to initiate different acts of kindness and serve the community through virtual or independent volunteer activities throughout the rest of the year.

About Citi

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.

Citi Foundation

The Citi Foundation works to promote economic progress and improve the lives of people in low-income communities around the world. We invest in efforts that increase financial inclusion, catalyze job opportunities for youth, and reimagine approaches to building economically vibrant communities. The Citi Foundation's "More than Philanthropy" approach deploys the enormous expertise of Citi and its people to fulfill our mission and drive thought leadership and innovation.

Appendix

Asia Pacific

Pledged $10 million in India to aid in a number of relief and recovery measures, including food provisions for low-income families across the country
Citi Foundation committed $1.5 million for country-level relief efforts across the region
Donated to Give2Asia in support of medical relief efforts in the most impacted communities across China
Matched employee and client fundraising efforts to support frontline hospitals in China via the China Friendship Foundation for Peace and Development
Acquired and donated over 270,000 face masks and other supplies to Tung Wah Group of Hospitals, Feeding Hong Kong, Hong Kong Unison and Social Welfare Department of the HKSAR Government
Donated to Hope Bridge Korea Disaster Relief Association to provide face masks and hand sanitizers to underprivileged communities, as well as supplies for medical staff in Daegu and North Gyeongsang Province

North America

Committed $10 million in the U.S. to make financial counseling and supportive services available to small business owners and families experiencing financial hardship through community-based organizations, including Women's Housing and Economic Development Corporation in New York, Los Angeles Chamber of Commerce and So Others Might Eat in Washington, D.C.
Together with Citi Foundation, donated $7 million to No Kid Hungry to support emergency Food Distribution Programs across the U.S, in addition to raising $2 million through the matching program for a total of $9 million to No Kid Hungry
Donated $2 million to help address the needs of people with disabilities in cities across the U.S., including funding to the National Disability Institute to provide personal protective equipment, medical supplies, meal deliveries and COVID-19-related resources
Supporting &pizza's Hero Pie program to help feed frontline workers in New York, D.C. and Boston, and enable the program to expand to additional cities in the U.S.
Donated personal protective equipment from closed on-site Live Well Medical Clinics to frontline teams across the U.S., including a fire department in San Antonio and a nursing home in St. Louis; equipment included N95 masks, surgical masks, isolation gowns, face shields and gloves
Supported the creation of an online tool in partnership with Microsoft that provides South Florida residents and small businesses access to economic support services in English, Spanish and Creole
Provided support to the LA Chamber of Commerce to lead the deployment of LA County's newly established small business fund targeting minority, women and immigrant-owned small businesses and micro-entrepreneurs at risk of not benefitting from the CARES Act
Matched employee fundraising efforts to support Food Banks Canada, which is addressing the shortage of food supplies

New York

Acquired and donated 50,000 fluid-resistant masks to Memorial Sloan Kettering in New York City
Partnering with catering supply chain partners and United Neighborhood Houses NY to repurpose food facilities at our 388 Greenwich Street Headquarters and distribute up to 1,000 meals daily to families across New York City
Raising funding for Food Bank for New York City to help provide meals for families, healthcare workers and first responders across the city; funds raised through a charitable campaign in which Citi's North American Rates business donates $1 for every $1 million traded electronically in interest rate products in the U.S.
Committed funding to New York-Presbyterian Queens to help provide 1,000 meals for frontline workers, including hospital staff, NYPD and paramedics
Directed funding to Free Arts NYC to ship art supplies and activity packets for 2,000 kids in homeless shelters through June
Directed funding to USO Metro NY to support service members on the USNS Comfort, who are providing frontline care for COVID-19 patients
Directed funding to City Harvest in support of their "Skip Lunch Fight Hunger" campaign to help feed vulnerable families across New York City

Latin America

Citibanamex committed approximately $4.4 million to support local communities in Mexico, with a portion of the funding going towards emergency relief efforts and economic recovery
Committed $1 million from the Citi Foundation for country-level relief efforts across the region
Pledged funding to #SeamosUno campaign to help purchase supplies such as food, toiletries and sanitary products for 4 million people in Argentina
Contributed funds for immediate medical relief efforts in Uruguay

Europe, Middle East and Africa

Committed $2.5 million from the Citi Foundation for country-level relief efforts across the region
Matching employee fundraising efforts in the UK to benefit charities providing food to vulnerable communities and support for health workers
Pledged funding to Fondazione IRCCS Ca' Granda – Policlinico Hospital in Milan, Italy to support critical relief efforts
Committed funding to support frontline healthcare workers in partnership with Kronenberg Foundation and Voivodeship Ambulance and Sanitary Transport Stations in Olsztyn and Warszawa
Committed funding to the Lebanese Banking Association, which is pooling funds across the banking sector to provide
Contributed funds to Latet in Israel to support the purchase of food parcels for the elderly and holocaust survivors
Donated to the American Chamber of Commerce's "United Against COVID-19" relief fund in Bulgaria to support medical relief and social services

Global

Committed $5 million from the Citi Foundation to United Nations Foundation to support the COVID-19 Solidarity Response Fund, which is providing protective equipment for frontline health workers, equipping diagnostic laboratories, improving surveillance and data collection, and establishing and maintaining intensive care units

* All monetary figures are in USD unless specified

In addition, Citi continues to take proactive measures to preserve the well-being of employees globally, including special compensation awards to 75,000 colleagues to help ease the financial burden of this situation. Citi is also offering assistance to impacted customers through credit card payment deferrals, fee waivers, hardship programs, and additional small business support.