Citi has launched its annual e for Education campaign, a global initiative which has raised over $16 million for education-focused non-profits since the inception of the campaign in 2013.
Over the next three months, Citi's FX business will donate $1 for every $1 million of FX traded with Citi via a broad range of electronic platforms including Citi's proprietary platforms- Citi Velocity for institutional clients and CitiFX Pulse for corporate clients.
Access to education remains a key challenge for young people globally. A recent survey commissioned by the Citi Foundation and conducted by Ipsos based on interviews of over 7,000 young people in 45 cities across 32 countries showed that 69% of young people see education as beyond their financial means. The following non-profit organizations supported by Citi's e for Education initiative strive to facilitate equal access to education globally:
- Civic Builders: develops high-performing charter schools where need is greatest across the U.S
- EMpower: supports at-risk youth in emerging market countries
- Fallen Patriots: provides college scholarships and educational counselling to North American children who have lost a parent in the U.S. military
- Room to Read: focuses on increasing literacy and gender equality in education in low-income countries
- SkillForce: uses veterans skills to help young people flourish at school in the UK
- Teach First: trains and support committed individuals to become inspirational classroom leaders in low-income communities across England and Wales
- Uncommon Schools: starts and manages 52 public schools serving 18,000 students in the US to prepare low-income students to graduate from college
Over the past four years Citi's e for Education campaign contributed to the success of several key initiatives supporting youth inclusion globally, including the development of new, high-quality charter schools serving 3,000 students in the US each year, the implementation of educational programs spanning 15 emerging market countries world-wide, and the support of college fees for over 900 children of fallen patriots in the US.
"The five-year milestone of Citi's e for Education campaign is a testament to our commitment to increasing financial inclusion and empowering young people globally", Nadir Mahmud, Citi's Global Head of Foreign Exchange and Local Markets said. "We are proud of the significant progress achieved through the campaign to date and grateful for the support that our clients and staff have consistently demonstrated to facilitate equal access to quality education in the communities we operate in."
In addition to the donations raised on the back of electronic trading activity, Citi clients and employees also support selected non-profits through a series of educational activities including CV clinics, mock interviews, trading simulation, visits to the trading floor and economics lessons.
Commenting on Citi's involvement, David Umansky, CEO and Co-Founder of Civic Builders said: "Citi has been an invaluable partner over the last five years. Not only does the Citi team provide critical funding to develop high-performing schools where need is greatest, they are also incredibly generous with their time and energy. Each year throughout the campaign, Citi employees practice interview techniques with our scholars, teach lessons about the markets, and share career advice. These experiences have a real impact on young adults as they develop skills for a bright and successful future."
"The e for Education initiative builds on Citi's expertise and track record of helping young people gain the necessary knowledge, skills and resources they need to realize their full potential," Itay Tuchman, Global Head of FX Trading at Citi said. "We look forward to working with our non-profit partners to further support youth inclusion and help young people move towards their career goals."