Citi commits ₹200 crore more to support India’s Covid relief efforts
[ad_1]
Read More/Less
Citi, on Wednesday, announced an additional ₹200 crore ($27 million) pledge over the next three financial years towards India’s recovery and relief efforts against Covid-19, as the country experiences a surge in cases.
Of the total pledged amount, ₹75 crore ($10 million) is being allocated immediately towards the procurement of oxygen supplies, adding beds to hospitals, diagnostic testing systems, personal protection kits and other supplies for India’s frontline healthcare workers, it said in a statement.
The funds will also be utilised towards food and hygiene supplies for low-income families.
Citigroup to exit consumer banking operations in India, 12 other markets
“We have been in India for more than 100 years, and the country is home to over 20,000 of our colleagues. We are determined to support India through this unprecedented health crisis,” said Peter Babej, Asia Pacific CEO of Citi.
₹75 crore deployed earlier
“Our efforts in India are an important part of our global commitment to fight Covid. Since the onset of the pandemic, we have focused on assisting communities around the world, including through financial support of $100 million from Citi and the Citi Foundation.”
DBS in ‘advanced talks’ to buy Citi’s consumer banking business in India
The additional pledged amount for India will also be used to fund public and private healthcare infrastructure and to impart employable skills to the youth, thereby promoting economic revival, important for India’s recovery.
“The resurgence in India, which is now overwhelming the country’s healthcare system, calls for efforts from all sections of our society to come together to bring India back on track. This is an extraordinary situation and while the need of the hour is for medical equipment, it is equally important to reinforce the country’s healthcare infrastructure for citizens’ health and safety,” said Ashu Khullar, India CEO of Citi.
Today’s announced commitment builds on the ₹75 crore Citi has already deployed in India towards pandemic relief efforts.
[ad_2]