Powering Pakistan's flood rehabilitation effort

Initiative includes launch of Microfinance and Disaster Management Capacity Building Program for micro-entrepreneurs

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Citi and the Citi Foundation have joined hands with the Pakistan Microfinance Network (PMN) to launch phase two of their flood relief efforts.

Citi, the Citi Foundation and Citi Alumni have together contributed more than $425,000 toward alleviating the recent flooding disaster that struck the country.

A key part of phase two activity is the launch of the Microfinance and Disaster Management Capacity Building Program for the microfinance industry, in collaboration with the PMN.

The program is expected to benefit almost two million Pakistani micro-entrepreneurs in the aftermath of last year's floods.

As part of this program launch, Citi and PMN have already conducted a workshop on post-flood solutions. Another workshop on risk management during disasters was held in July with senior microfinance and banking experts. The program will conclude with the publishing of a joint MicroNote on best practices for disaster management in developing countries.

Citi and the Citi Foundation enjoy a long-standing relationship with the PMN and have collaborated on a number of microfinance capacity building projects in the past. This year concludes the joint three-year Citi Foundation-PMN Microfinance Capacity Building Program, enabled by a $650,000 grant from the Citi Foundation.