In corporate social responsibility, it is also rare to find financial institutions who manage to take their contributions beyond the occasional charitable donations, but rather put their financial acumen to good use in the community.
One that did just that was Citi. What was particularly impressive about Citi’s work in CSR was how it focused on providing financial and market solutions to address pressing issues in a large number of Middle Eastern countries, often by partnering with local players.
In Jordan and Lebanon, Citi has collaborated with Ruwwad Micro-Venture Fund, a private sector-led non-profit community empowerment organization that helps disadvantaged groups overcome marginalization through youth activism, civic engagement and education. Citi’s project with Ruwwad trains and funds young entrepreneurs from those groups. During 2016, the project helped 100 micro-entrepreneurs in those two countries.
Citi’s work on financial inclusion also led it to work with the University of Dubai and Dubai SME, a public-sector entity focused on supporting aspiring entrepreneurs. Citi also set up a micro-entrepreneurship cash award, which has benefited growing firms in Jordan, Lebanon, Morocco, Egypt and other countries in the region.