The Citi Foundation announced that it will provide $15 million to support COVID-19 related relief activities globally. It will be allocated as follows:
- $5 million will be directed to the COVID-19 Solidarity Response Fund.
- $5 million will be directed to No Kid Hungry to support emergency Food Distribution Programs in the U.S.
- $5 million will be directed to additional international, country-specific efforts in places that are severely impacted. In the coming weeks, the Citi Foundation will also be working to identify additional opportunities to support longer-term recovery efforts.
Citi CEO, Michael Corbat said, “These funds are just a first step in helping to support those immediately impacted by this crisis, including healthcare workers on the frontline and the foodbanks in the U.S. that are feeding our young people. This unprecedented situation demands that we continue to respond thoughtfully and decisively using the breadth of our philanthropic efforts and our core business activities.”
The COVID-19 Solidarity Response Fund was established by the UN Foundation and the Swiss Philanthropy Foundation at the request of the World Health Organization. Contributions will go towards rapidly detecting cases, stopping transmission of the virus and caring for those affected.
Funds donated by the Citi Foundation will join this collective effort to provide protective equipment for frontline health workers, equip diagnostic laboratories, improve surveillance and data collection, establish and maintain intensive care units and take other critical steps to scale up the urgent public health response to the pandemic around the world.
The work that No Kid Hungry does to provide meals to kids in need has become even more pressing during school closures. Vulnerable kids will miss more than an estimated 101 million meals this week alone.
Foundation funding will include support to scale No Kid Hungry’s work to provide emergency grants, divert resources to help the hardest-hit communities and make sure families know how to find meals while schools are closed. In addition to Foundation support, Citi will directly match donations up to $2 million from the general public to No Kid Hungry.
The Citi Foundation
The Citi Foundation works to promote economic progress and improve the lives of people in low-income communities around the world. They invest in efforts that increase financial inclusion, catalyze job opportunities for youth, and re-imagine approaches to building economically vibrant cities. The Citi Foundation’s “More than Philanthropy” approach deploys the enormous expertise of Citi and its people to fulfill their mission and drive thought leadership and innovation.