[KARACHI] – Citi released its 10th annual Global Citizenship Report, underscoring the bank’s strategic focus on citizenship and commitment to the economic development of the communities it serves in more than 140 countries. In Pakistan, Citibank remains a pioneer in the field of CSR as strong evidence of the bank’s commitment to run its business in a manner that will ‘better the communities in which we live and operate.’ In 2009, Citibank Pakistan through the Citi Foundation has disbursed over Rs30 Million through five grants in Pakistan, for a spectrum of development related initiatives in the social sector.

Some of the grants provided include a multi-year grant to the Pakistan Microfinance Network worth over Rs56Million to enhance the microfinance platform in the country and mould it into a tool for poverty alleviation and long term social transformation. Additionally, grants have been given for the Citi Microentrepreneurship Awards that have been conducted in Pakistan since 2005, in collaboration with the Pakistan Poverty Alleviation Fund. Furthermore, Citi has also been working closely with the Lahore University of Management Sciences, Tameer Bank, Kashf Foundation, Acumen Fund, The Citizen’s Foundation, Institute of Business Administration, Institute of Business Management, Akhuwat Foundation, Tarraqi Foundation, Thardeep Rural Development Program and Development in Literacy over recent years.

Citi’s commitment to being a strong CSR force in communities around the world is an integral part of our identity,” said Citi Pakistan’s CCO & MD, Arif Usmani. “We are a global business with a local heart and are able to bring a unique global perspective to clients. As we approach our 50th anniversary in Pakistan next year, we reiterate our ties to the local community as well as our commitment to running our franchise in a manner that places the customer first, values its employees, supports communities, respects the environment and ensures that our business activities are consistent with these values."

Among Citi’s global key 2009 accomplishments:

• Contributed more than $5 billion in sustainable, “green” investments, financing and other activities including a biogas project in Honduras that will avoid 30,000 tons of carbon dioxide emissions [per year], a 100 megawatt wind farm project in the United States, and a chemical plant refurbishment project in Israel to reduce emissions of nitrous oxide;
• Arranged Bangladesh’s first syndicated agricultural term financing facility to support microlending to small farmers and partnered with Grameen America to provide savings programs to underserved individuals in select areas of New York City; and
• Added $18.4 million to support the bank’s $200 million global commitment to financial education programs in more than 70 countries bringing Citi’s total investment in the area to $167 million.

Citi Achieves Halfway Point of $50 Billion 10-Year Global Climate Change Initiative; Sets New Environmental Targets

Since 2007, Citi has contributed a total of $24.3 billion to address the challenges of climate change, putting the bank nearly halfway to meeting its 10-year $50 billion investment goal. Investments include internal projects, such as constructing new Citi facilities to be sustainable, as well as external initiatives, such as financing alternative energy, investing in clean technology and researching carbon reduction strategies on behalf of clients.

Additionally, Citi announced new environmental targets governing waste and water, including 10 year targets to reduce water usage by 20 percent and landfill waste by 40 percent. Citi also unveiled a new, more aggressive greenhouse gas reduction goal of 25 percent, from 10 percent, committed to LEED certification for at least 15 percent of its global real estate portfolio, and pledged to improve energy efficiency by 20 percent as measured by the U.S. Environmental Protection Agency’s (EPA) ENERGY STAR ratings system. Citi’s environmental targets are calculated from the 2005 base year.

Citi Continues Focus on Microfinance around the World

Citi Microfinance works across Citi’s businesses and geographies to serve more than 100 microfinance institutions (MFIs), networks and investors as clients and partners in over 40 countries, providing funding, access to capital markets, savings, remittances and insurance products. Citi works with MFIs that serve millions of people who lack access to basic financial services.

Citi has nearly three decades of experience in the area of microfinance, supporting the institutional development of the sector through the Citi Foundation, and by our businesses and Citi Microfinance working with MFIs as clients and partners.

“Citi is committed to being a global and local supporter of the microfinance sector and to focusing the resources of our business to expand financial inclusion and economic growth. Our strategy has been to work closely with microfinance institutions in local markets connecting institutions with access to commercial financing and to their own local capital markets,” said Bob Annibale, Global Director of Citi Microfinance and Community Development.

To read the complete Citi Global Citizenship Report for 2009, visit the new interactive micro site at citizenship.citigroup.com