Citi is first New Cities Foundation financial sector member

Foundation will address pressing urban financial needs, and support cities' economic development and sustainable growth

General News

The New Cities Foundation today announced the global bank Citi as its newest corporate and first financial sector member.

Together, Citi and the New Cities Foundation will pursue the common objective of addressing pressing urban financial needs, and supporting cities' economic development and their pursuit of sustainable growth and prosperity.

Citi has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. By joining the New Cities Foundation as a member, Citi will bring its global expertise on urban challenges in more than 1,000 cities worldwide.

Mathieu Lefevre, Executive Director of the New Cities Foundation said: "We look forward to working closely with Citi to help urban leaders understand the financing options available to assure their city's sustainability and competitiveness."

Ward Marsh, Head of the Municipal Securities Division at Citi, said: "We are extremely pleased to be one of the first financial institutions to join the New Cities Foundation. Urban areas continue to grapple with rising infrastructure costs and constrained financing and we believe it is important to not only engage the community and address these challenges, but present the many opportunities of urbanization."

Citi also brings to NCF its experience in e-government initiatives, helping cities simplify processes, harnessing advancements in digital, mobile and card technologies to improve efficiency and make it easier to live and work in cities.

In addition, Citi and the New Cities Foundation will work together to develop urban finance-related sessions at the Foundation's flagship event, the annual New Cities Summit.

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