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Thursday, February 18, 2016
BWI: Citi Foundation's Pathways to Progress Global Youth Initiative Expands to India with the 2016 India Innovation Grant Program
Source : Citigroup Inc.
Thursday, February 18, 2016 5:55PM IST (12:25PM GMT)
Citi Foundation's Pathways to Progress Global Youth Initiative Expands to India with the 2016 India Innovation Grant Program
Mumbai, Maharashtra, India
Up to INR130 millionavailableasgrants for innovativeprogramsthat create economicopportunities for low-income young people
ProgramispartofPathways to Progress,the Citi Foundation’s approach to prepare young people with careerreadinesstoolsand opportunities
The CitiFoundation’sthirdeditionofits India InnovationGrantProgram(IIGP)thisyear aims toidentifyleading programs that willhelpyoungpeople,agedbetween 16-25 years old,buildanentrepreneurial mindset, acquireleadership, financial and workplaceskills, and begin to engagein the formal economy through a first job.
Through the 2016 IIGP, up to INR 130 million willbeavailablein grant funding to NGOs workingintheareaof youth economic opportunitiesacrossIndia.
Who can apply?
Invitesproposals from registeredNGOswith a minimumthree year track record
Registerednot-for-profitentities,such as a Society,Trust,Section 25/8 Company
Registeredwith the Ministry of HomeAffairsunder the FCRAregulation
Set up for at leastthreeyears and have a consistenttrackrecordover three financialyears in India
Shortlistedapplicantswill be notified and requested to submit full proposals
The 2016 IIGP ispartofPathways to Progress,Citi Foundation’sglobalinitiativetoprepareyoungpeoplewith the career readinesstoolsand opportunities needed to thrive in today’s economy.
Pathwaysto Progressis comprised ofprograms,research,andpartnerships that helpyouthbuildanentrepreneurialmindset, acquire leadership,financial and workplaceskills,andbegin to engage in the formal economy through a first job.
The Citi Foundation’s IndiaInnovation Grant Program, a first-of-its- kind initiativeinIndia,waslaunched in 2014 to encourage non- governmentalorganizations (NGOs) to developinnovativeandsustainablefinancialeducation and inclusion models. The programis supportive ofIndia’s national agenda to spur financial inclusion byinstillingthehabitofsavingsamongstlow income populations.
Now in its third year, this year’sprogram willexpand to focus onyetanothernationalagenda,whichistheskillingofyouthacrossthecountry,topreparethem for and connect themwith economic opportunities,which in turn, will propel economic progressandinclusioninIndia.
Citi India Chief Executive Officer Pramit Jhaveri said, “Citi India is extremely proud of the impact and reach of the India InnovationGrantProgramthrough its earliereditions. This year,inalignmentwith the Government of India's ‘Skill India’ initiative,which aims to train 400 million youth by 2022, the India InnovationGrantProgram seeks to address the creation ofeconomicopportunities for youth in the country.
“With morethan 50% of our population under the age of 25 years, attempting to skill and train India’syouthis a massive opportunity. The needis for programsthatareinnovative in approach,yetscalablein impact, so thatthey will act to augment the efforts of the government,’ said Mr Jhaveri.
The CitiFoundation’s2016IIGPwillawardgrants to NGOs inIndia that employ innovativeapproachestocreatesustainable and long term opportunities for livelihoods for youngpeoplein low incomecommunitiesacrossthecountry.
Of particularinterestare programs that:
Prepareyoungpeople for and connect them to economic opportunities,includingbutnotlimitedto:
Entrepreneurshiptraining
Employmentaccess
Leadership,financial and workplaceskilldevelopment
Focusonurbanlow-incomeyouth
Use technology and innovativeapproaches to expanddeliveryandlower the costs ofserving more lowincomeyoungpeople
Engagestakeholders to promote theadoptionof new national approaches
In itspreviousedition, the 2015 India InnovationGrantPrograminvested INR 130 million (USD2 million) in eightinnovative and sustainable financial educationand capability programs aimed to benefit more than300,000individuals in the country through non-profitorganizationsincludingAmericanIndia Foundation Trust, GrameenFoundation,KalighatSociety for DevelopmentFacilitation,MelJol,NavyaDisha,SwadhaarFinAccess,AnudipFoundation for Social Welfare andPrathamEducation Foundation.
In India, the Citi Foundation’s overall grantprogramisfocusedonaddressing the socio-economicchallengeswithinnovativeandstrategicgrants,whichwillhelpenhance and facilitate financial inclusion,promoteresponsiblefinancialbehaviorviaincreasedfinancial literacy and create new income-generating opportunitiesinlow income communities.Since1999, the Citi Foundation has supported more than35non-profitorganizations,benefiting an estimated2.5millionindividualsacrossIndia.
AboutCiti:
Citi, the leadingglobalbank, has approximately 200 million customer accounts anddoes business in more than160countries and jurisdictions.Citiprovidesconsumers,corporations,governmentsandinstitutionswith a broad rangeoffinancialproducts and services,includingconsumerbanking and credit,corporateandinvestmentbanking,securitiesbrokerage,transaction services, and wealthmanagement.
CitiIndiaoffersconsumersincludingNonResidentIndians,corporates and financialinstitutions, a comprehensiverange of financialproductsandservices.Theseincluderetailbanking,mortgagefinance,credit cards, personalloans,corporate and investmentbanking,foreignexchange,securitiesbrokerage,transactionservicesand wealth management.CitiIndiaoperates 45 retailbranchesin 28 cities and servescustomersrangingfromIndia's top corporatehouses,multinationalsoperating in India,SME's, self-employedentrepreneurs, households and individuals.Citi Indiahasleadingmarketsharesin a number of areas in India'sbankingindustry,includingcredit cards, distribution of mutualfunds,e-commercebanking,investmentbankingandforeign exchange. In addition,CitiIndiathroughitsnetwork of CitiServiceCentreshas been a leadingoffshoringunit for Citigroupglobally,providingemploymentopportunitiesin the areas of technology, processing,analyticsandfinancial processes.
CitiIndia is also committedtoenablingsocio-economicprogressinthecommunitieswhereweliveandwork.Since 1999, CitiFoundationthrough its partnerships,hashelpedfurther the financialinclusionagendathrougheducation, and has createdlivelihoodopportunities for youthandmarginalizedfamilies in India. In addition,Citi has beencommitted to preservingIndia’sheritagethrough its programsfocusedon art andculture.Theseefforts,overthepast 16 years,havebenefited more than2.5millionpeopleacrossthecountry.CitiIndiacontinues to promote an inclusiveandresponsiblesocietythrough its variousCSRinitiatives.
TheCitiFoundationworks to promoteeconomicprogressandimprovethelives of people in low-income communities around the world.Weinvest in efforts that increasefinancialinclusion,catalyze job opportunities for youth, and reimagineapproaches to buildingeconomicallyvibrantcities.The Citi Foundation’s“More than Philanthropy”approachleverages the enormousexpertise of Citi and itspeople to fulfill our mission and drivethoughtleadershipandinnovation. For moreinformation,visitwww.citifoundation.com
George Koshy, george.koshy@citi.com, ,+91-9819808042
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