FOR IMMEDIATE RELEASE
Citigroup Inc. (NYSE: C)
March 03, 2008
Citi Foundation & the Russian Microfinance Center Launch "Plan Your Future" Financial Education Project
Yekaterinburg – Citi Foundation in partnership with the Russian Microfinance Center (RMC) have partnered in support to present the seminar entitled "Plan your Future." The seminar will give higher economic stability and access to financial services for families of low income. This new project aims to train loan officers in efficient methods of providing financial knowledge to low-income families. The "Plan your Future" initiative was adapted by RMC in response to current needs of low-income people to gain better understanding of financial services. The program consists of the following trainings: fund flows and financial objectives, ways and opportunities of money saving, saving tools, rational borrowing, and financial plans.
The first seminar was held at the end of 2007 in Saint Petersburg. The upcoming trainings will be held in Samara, Nizhniy Novgorod, and Rostov-on-Don. In the first year the project will assist 2,250 individuals.
Igor Lisitsyn, Head of the Uralsky branch of ZAO Citibank noted: "We are glad that in 2008 the program has been rolled out in Yekaterinburg. Our region has a sound economic potential for further growth. We hope that the start of the program in Yekaterinburg will lead on to other communities in Russia benefiting from this initiative."
Mikhail Mamuta, the President of the Russian Microfinance Center, said: "We express our special thanks to Citi Foundation for the constant support of the initiatives aimed to further development of microfinance and higher financial education that has a positive economic impact to individuals in Russia."
Victoria Kaskova, Head of Community Relations of ZAO Citibank underpinned: "This project is of crucial importance for this market, as it helps to raise the financial literacy levels of low-income people, with the end result being improvement of their living standards. In 2004, Citi announced its ten-year plans to commit about USD 200 million in support of programs on financial literacy in 100 countries all over the world. In Russia during this period Citi granted USD 1.5 million to support financial education programs conducted by Russian and international NGOs."
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Citi
Citi, the leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Citi's major brand names include Citibank, CitiFinancial, Primerica, Smith Barney, Banamex, and Nikko. Additional information may be found at www.citigroup.com or www.citi.com.
Citi Foundation
The Citi Foundation is committed to enhancing economic opportunities for underserved individuals and families in the communities where we work throughout the world. Globally, the Citi Foundation is focusing its giving on Microfinance and Microentrepreneurship, which helps individuals become economically self-sufficient; Small and Growing Businesses leading to economic expansion and job creation; Education, which prepares young people for personal and professional success; Financial Education, which helps individuals make informed financial decisions; and the Environment with a focus on sustainable enterprises that generate jobs and stimulate economic growth while preserving the environment. In the U.S. and Canada, the Citi Foundation supports Community Development programs that help build and revitalize neighborhoods and Education programmes that prepare students for college and careers. Additional information can be found at http://www.citigroupfoundation.org/.
Russian Microfinance Center (RMC)
The Russian Microfinance Center (RMC) was established in July 2002 in response to the need for an organization that represents and advocates for the interests of the entire microfinance community. While expanding economic opportunities for the low-income households in Russia for poverty alleviation purposes through the development of private businesses and supporting entrepreneurial initiatives, the RMC is actively engaged with charity associated with the enhancement of standards of living in our country. Our longstanding efforts have received the support of such international recognized charity and development agencies such as United Way International, Citigroup Foundation, the Consultative Group to Assist the Poor, United Nations Development Program, the World Bank, CAF-Russia and others. In cooperation with them the RMC delivers annual charitable award "Russian Microentrepreneurship Contest" as well as manages scholarship fund for Russian MFIs and low-income households and also implements training programs on financial literacy for aforementioned target group.