Citigroup Inc announced that it has raised US$1 million in the Asia-Pacific region in an effort to support the UN Development Programme address challenges due to the COVID-19 pandemic across the region.
The fundraising was a joint effort by several of the firm’s markets and securities services businesses, including regional cash equities, rates and currencies, and corporate sales and solutions, which donated a percentage of their revenues to the campaign, which ran from Monday to Friday last week.
“These are historic times and the COVID-19 pandemic poses a test for our generation like none we have seen,” said Stuart Staley, Citi’s Asia-Pacific head of markets and securities services.
“This was an employee-led initiative that was designed to address the disproportionally large impact that the coronavirus is having on vulnerable communities throughout the APAC region. We are grateful to our clients for their continued support and partnering with us to make a positive difference in the communities that we serve across the region,” Staley added.
Citi’s contribution to the UN program would be utilized for the most vulnerable and marginalized communities in the region, including families living below the poverty line, women at risk and migrant workers.
It would be used to provide socioeconomic recovery and livelihood support, including food rations, medical supplies and personal protection equipment, to those most affected by the pandemic.
“As an active member of our local communities, Citi prioritizes how we can support the needs of those around us, especially during crises. This is, in particular, the time when we work together even when we are apart,” said Linda Wen (文妙心), Citibank Taiwan Ltd (台灣花旗) head of markets and securities services.
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