As part of our goal to be the most respected global financial services company, our commitment at Citi is to make communities better because we are there. By working strategically with international, national and local non-profit organizations to develop industry-leading initiatives and foster innovative solutions, we focus on the needs of the underserved. From affordable housing to sustainable economic development to financial education, our network of employees and resources provides many meaningful opportunities to serve our communities to really make a difference.
 
We continuously engage our partners in dialogue, which enables us to respond proactively to key community issues. Our strategic community programs provide our partners and their constituents with valuable resources to make a positive impact in low-and moderate-income and other underserved communities.
 
In 2007, we focused on strengthening our community involvement in the U.S., while enhancing relationships internationally. As we move into 2008, we will continue to develop multi-faceted products and services that address the needs of our customers and communities.
 
Community Relations in the U.S.
In anticipation of regional economic challenges, Citi launched a significant campaign of innovative programs to prevent foreclosures in critical locations. Recognizing that a nonprofit's relationship with the community can help both the borrower and the servicer, in April 2006 we announced our national foreclosure prevention program in Ohio. This program, a partnership with the NeighborWorks Center for Foreclosure Solutions, is on-going and designed to encourage financially distressed homeowners to seek help by contacting a designated 24/7 hotline for counseling. Following the success of that program, Citi launched its own Office of Homeownership Preservation (OHP) in July 2007. Under the auspices of the OHP, we have developed a number of strategic programs and initiatives aimed at providing effective resources to borrowers in distress while educating potential borrowers about foreclosure prevention.
 
As one of the world's largest financial services companies, Citi continues to provide capital in a way that is both aspirational and responsible – taking a long-term view of what is in the best interests of our clients and the communities in which we live and work. In 2007, Citi Community Capital (CCC), formerly Citibank Community Development, provided up to $5 billion for affordable housing and community revitalization projects in locations around the country.
 
Community Relations Around the World
Citi continues to support the work of our community partners across the globe. We have partnered with Habitat for Humanity International (HFHI) for more than four years and have targeted our support towards the, "Citi Builds Communities" employee volunteer program, the Jimmy Carter Work Project (JCWP) and the Financial Services Roundtable Community Build Day.
 
We continue to be a strong supporter of the Clinton Global Initiative (CGI). In 2005, former U.S. President William J. Clinton founded the nonpartisan Clinton Global Initiative (CGI) to serve as a catalyst for global change. Citi was the first financial services company to support the CGI and is the exclusive sponsor of the Poverty Alleviation working group. Our ongoing commitment focuses on financial education for the poor, the Citi Microentreprenuership Awards, and a $100 million Citi/OPIC global microfinance program. In April 2007, we were proud to partner with the Financial Times to launch a series of advertisements to highlight microentreprenuers around the world.
 
At Citi, we value our community partnerships and take seriously their concerns, input and advice. The results are innovative financial products and services that assist underserved individuals and families in their efforts to achieve new levels of financial independence, productivity, and economic well-being. Working across geographies, issues and organizations, we strive to leverage our resources to continually make communities better because we are there.