New York – The Citi Foundation (the “Foundation”) today announced its first-ever Global Innovation Challenge to help scale the impact of nonprofits around the world that are developing innovative solutions to improve food security. This inaugural challenge will provide a collective $25 million to 50 organizations to support the piloting or expansion of ideas and projects that are designed to address this issue and strengthen the physical and financial health of low-income families and communities.
With 770 million people suffering from some form of malnutrition around the world, food security is one of today’s top global crises. A recent study from Citi Global Perspectives & Solutions (GPS) found that the estimated impact of malnutrition on the global economy could be as high as $3.5 trillion per year — or close to $500 for every individual on the planet – stemming from record high food prices and other macro-economic factors that have led to civil unrest, global displacement and more.
“Far too many families around the world face the daily struggle of not knowing when and where their next meal will come from,” said Brandee McHale, President of the Citi Foundation and Head of Citi Community Investing and Development. “We understand the economic factors that contribute to this ever-growing crisis, and our goal with this RFP is to help empower diverse, mission-driven nonprofits that are pioneering game-changing, scalable solutions in their communities.”
For this RFP, the Citi Foundation will prioritize projects in four areas:
"The food security crisis is one of the most urgent issues our world is facing today,” said Liza Henshaw, President, Global Citizen. “Having proudly partnered with Citi for over 10 years, we have seen first-hand the positive impact the Citi Foundation has had helping lift underserved communities out of poverty. This global initiative is going to provide much needed funding to industrious organizations working to combat food scarcity with the innovative solutions we desperately need.”
The first Global Innovation Challenge builds upon Citi and the Foundation’s history of support of addressing food security:
The deadline to register is March 22, 2023, at 4 p.m. EDT. For more information on this opportunity including the eligibility requirements and target geographies, please visit: www.citifoundation.com/challenge
The Citi Foundation works to promote economic progress and improve the lives of people in low-income communities around the world. We invest in efforts that increase financial inclusion, catalyze job opportunities for youth, and reimagine approaches to building economically vibrant communities. The Citi Foundation's "More than Philanthropy" approach leverages the enormous expertise of Citi and its people to fulfill our mission and drive thought leadership and innovation. For more information, visit www.citifoundation.com.