London – Citi has raised a record $7 million through the 2018 edition of its annual e for Education campaign. Launched in 2013 by Citi's Foreign Exchange and Local Markets (FXLM), the initiative has raised $30 million over the past six years in support of several key projects focused on youth education and literacy.
More than 300,000 students have been supported by the campaign globally through various initiatives spanning 28 countries worldwide, including the development of more than 500 new schools serving 20,000 students in the U.S., the support of college fees for over 900 children of fallen patriots in the U.S., the creation of schools providing college preparatory education to almost 25,000 U.S. students from underserved communities, the support of thousands of U.K. pupils affected by mental health issues, as well as education programs enabling more than 130 million girls to attend school.
This year alone, Citi's FXLM business raised $7 million by donating $1 for every $1million of FX that clients traded via a broad range of electronic platforms, including Citi Velocity, Citi's flagship trading platform for institutional clients, and CitiFX Pulse for corporate clients. For the first time this year, the campaign also included local market bonds, in addition to FX.
Commenting on Citi's partnership, Marta Cabrera, President of EMpower, one of the 10 non-profits supported by the campaign, said: "Citi's e for Education has given a huge boost to our work in youth education. We have been able to expand and deepen our support of outstanding organizations in 15 countries worldwide, keeping girls in school in India, teaching computer and language skills in Africa and giving young people more opportunity for a better future. Citi's support has been a game-changer, and has made a critical difference in the lives of thousands of young people."
"We are delighted to have raised record funds for the sixth edition of the campaign," Nadir Mahmud, Citi's Global Head of Foreign Exchange and Local Markets, said. "As we continue to gain momentum with this initiative, we are pleased to work with a growing number of non-profit partners to further support youth inclusion globally and facilitate equal access to education in the communities we operate in."
Additional information about the campaign may be found at www.citifx.com/e4e.
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