New York In response to the devastating earthquake in Haiti on Tuesday, Citigroup Inc. today announced a $2 million commitment for immediate relief and recovery efforts. Citi will give $250,000 to the American Red Cross for immediate relief and the remainder will be given to local partners for medium- to long-term reconstruction efforts.
Citi CEO Vikram Pandit said: "Our thoughts and prayers are with the people of Haiti and the families and friends of Citi employees in Port-au-Prince. Citi has been operating in Haiti since 1971. Citi's relief efforts will help aid organizations on the ground facilitate the preservation of life and the rebuilding of the country. I would also like to thank Citi employees in Haiti and from around the world who have been so generous in their efforts to help."
The bank has partnered with the Pan American Development Foundation (PADF) for the past 20 years to keep pre-deployed supplies in warehouses in Miami which are released in disaster situations across Latin America and the Caribbean. Citi and PADF have today deployed supplies to Haiti.
The company has opened an appeal fund for employees to donate, provided details of partner organization relief funds for donations and are encouraging employees to help with volunteer efforts in their communities.
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries. Through Citicorp and Citi Holdings, Citi provides 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, transaction services, and wealth management. Additional information may be found at www.citigroup.com or www.citi.com.