Mumbai – Citi today announces an additional INR200 crore (US$27 million) pledge over the next three financial years towards India's recovery and relief efforts against COVID-19, as the country experiences a surge in cases.
Of the total pledged amount, INR75 crore (US$10 million) is being allocated immediately towards the procurement of oxygen supplies, adding beds to hospitals, diagnostic testing systems, personal protection kits and other supplies for India's frontline healthcare workers. The funds will also be used towards food and hygiene supplies for low-income families.
"We have been in India for more than 100 years, and the country is home to over 20,000 of our colleagues. We are determined to support India through this unprecedented health crisis," said Peter Babej, Asia Pacific CEO of Citi. "Our efforts in India are an important part of our global commitment to fight COVID. Since the onset of the pandemic, we have focused on assisting communities around the world, including through financial support of US$100 million from Citi and the Citi Foundation."
The additional pledged amount for India will also be used to fund public and private healthcare infrastructure and to impart employable skills to the youth, thereby promoting economic revival, important for India's recovery.
"The resurgence in India, which is now overwhelming the country's healthcare system, calls for efforts from all sections of our society to come together to bring India back on track. This is an extraordinary situation and while the need of the hour is for medical equipment, it is equally important to reinforce the country's healthcare infrastructure for citizens' health and safety," said Ashu Khullar, India CEO of Citi.
Today's announced commitment builds on the INR75 crore Citi has already deployed in India towards pandemic relief efforts. A summary of the initiatives successfully concluded in FY21:
In addition, employees participated in programs to provide masks and sanitizers for over 450 children at St Jude, and daily meals for ~1 million migrant workers through Akshaya Patra, while Citi debit and credit card holders along with employees also participated in an unique engagement program, to help raise INR2.25 crore (US$300,000) towards PM-Cares Fund.
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.
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Committed to India for over 115 years, Citi takes pride in being a premier locally embedded financial institution, backed by an unmatched global network. Citi is an employer of choice in India offering consumers and institutions a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, brokerage, treasury and trade services, securities and fund services and wealth management. In line with our commitment to make a positive difference in the communities we work, Citi India's citizenship program targets its strategic efforts in the priority areas of Financial Capability & Asset Building, Microfinance, Enterprise Development, and Youth, Education & Livelihoods.
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