Citi today announced that Citi and the Citi Foundation have committed more than $100 million to date in support of COVID-19-related community relief and economic recovery efforts globally. This includes more than $35 million in new funding, adding to the previously announced $65 million in grants and charitable contributions to deliver ongoing relief and support for longer-term economic recovery in communities impacted by the global pandemic. These contributions include $2 million from Citi employees through a donation matching program.
Recognizing the disproportionate impact that COVID-19 has had on communities of color in the U.S., Citi and the Citi Foundation are expanding support for Community Development Financial Institutions (CDFIs), which play a vital role in expanding access to safe and affordable products and services for these businesses and communities.
Michael Corbat, Citi CEO, said, “COVID-19 has brought to the forefront the racial, economic and social inequalities that exist in our communities. Partnering with community-based financial institutions to support those businesses and populations most impacted helps address the disparities that persist and support our communities in need.”
“During a time of great uncertainty and economic hardship, my colleagues once again showed their generosity and compassion by contributing more than $2 million of their own money to support COVID-19 relief efforts, which Citi matched with an additional $2 million in donations. I couldn’t be more proud or grateful to work with people who put such a high value on supporting their communities and those in need,” Mr. Corbat concluded.