Grant Details

The Citi Foundation supports programs designed to promote economic progress and improve the lives of people in low-income communities around the world. The foundation invests in efforts that increase financial inclusion, catalyze job opportunities for youth, and reimagine approaches to building economically vibrant cities.

To that end, the Foundation supports projects within the following areas -

• Citi Microentrepreneurship Awards - Through the Microentrepreneurship Awards, the foundation raises awareness about the importance of microentrepreneurship and microfinance in supporting the financial inclusion and economic empowerment of low-income individuals. The foundation selects one œMicroentrepreneur of the Year from each country who has made extraordinary contributions to the economic sustainability of their families and the community. In select countries, the foundation also awards the œMost Innovative Microfinance Institution honor to a microfinance institution that has created or implemented an innovative product, delivery mechanism, or integrated financial education with the product offering.
• City Accelerator - The foundation, in partnership with Living Cities, promotes collaboration between urban leaders to address community issues. The program includes economic opportunities for low-income populations and municipalities to run more effectively. The program will pilot in 17 U.S. cities and will feature interaction with leading practitioners from around the country and shared lessons learned to help other cities advance similar work. The City Accelerator helps translate dialogue into action by giving cities seed funding. Visit http://www.governing.com/cityaccelerator for more information.
• Community Progress Makers Fund - Through the Community Progress Makers initiative, the foundation addresses economic development, affordable housing, environmental sustainability, and urban infrastructure through high-impact community organizations. The $20 million two-year initiative includes technical assistance from leading experts and collaboration with residents, nonprofit partners, businesses, and municipal agencies. In 2017 Citi Foundation announced an additional $20 million investment in the Community Progress Makers Fund.
• Financial Inclusion - The foundation supports programs designed to promote financial inclusion through financial products and capital; and provide new income generation and/or employment opportunities for low-income individuals to grow businesses. The foundation also supports programs designed to increase the number of low-income adults or youth who adopt positive financial behaviors and accumulate and preserve financial assets.
• Pathways to Progress - Through Pathways to Progress three-year initiative, the foundation partners with community members, city officials, and employee volunteers to help low-income urban youth ages 16 to 24 to build an entrepreneurial mindset, acquire leadership, financial and workplace skills, and begin to engage in the formal economy through a first job. In 2017 the Citi Foundation announced an additional $100 million investment in Pathways to Progress.
• Program-Related Investment - In 2002, the foundation entered into an agreement with a community development organization to become a partial sponsor of eight loans approved for third party organizations. In addition, the foundation supports microfinance networks through participating in the Citi Network Strengthening Program, which seeks to strengthen the technical, operational and financial capacity of 12 national and regional microfinance networks around the world.
• Sustainable Cities - The foundation supports initiatives designed to build sustainable cities that offer economic opportunities for low-income residents through municipal effectiveness and infrastructure, affordable housing, and environmental sustainability. Special emphasis is directed toward economic progress and/or environmental sustainability of low-income individuals and communities.
• Youth Economic Opportunities - The foundation supports programs designed to increase the number of low-income youth who complete postsecondary (college-level) education, gain skills to enhance employability, become employed, or start their own income-generating business. Special emphasis is directed toward programs that link education goals with leadership skills training, professional networks, and on ramps to employment to increase the number of low-income youth who are able to get a job or start an income-generating business.