Citi supports association for the Development of Rural Capacities

Provided by the Citi Foundation, Citi's social investment arm, the $45,000 grant (provided over the period 2006-2007) supports vocational training of small entrepreneurs and unemployed individuals in order to develop both business management and technical skills in those areas most affected by hostilities in 2006.

The 2-year program develops entrepreneurial skills through experts who teach participants key business skills such as developing a business plan, basic accounting and marketing, and technical skills such as baking whole meal bread, creating herbal essences, animal health and food hygiene.

The program also provides access to advanced literacy in computer and languages, and CST certification (governmental) on software development and secretarial skills.

Furthermore, a primary/ secondary education tranche works to reduce school failure, dropouts and child labor through reinforcement classes, culture and leisure activities and training of school teachers.

The ongoing vocational program has so far benefited more than 250 entrepreneurs in various areas in Lebanon, including women entrepreneurs in the agriculture sector, who received training on Business Management, Food Processing Safety and Hygiene, Product Marketing and Labeling, Plumbing and Electricity.

Walter Siouffi, General Manager for Citi in Lebanon, said: "We are proud to be associated with ADR for the benefit of communities in Lebanon. We look forward to assisting where we can in the area of financial education and capacity building to support their microfinance and vocational training initiatives." As part of its partnership with ADR, Citi recently commenced a banking risk orientation program aimed at providing ADR micro-credit loan officers with an opportunity to spend a day with commercial lenders at Citibank's offices in Beirut to enhance their exposure to lending practices in the banking sector.

Adriana Doumet, Programs Manager for ADR, said: "Many micro and small enterprises (MSE's) in the South lost their businesses during the 2006 hostilities. Thanks to Citi, we were able to conduct a successful vocational program which quickly improved the skill set of many MSEs who form a significant part of the local economy and provide employment opportunities for many of the lower income segments of the population."

Citi's presence in Lebanon dates back to the 1950s. Since re-establishing its fully licensed branch in Beirut over ten years ago, the Bank has evolved into an active corporate citizen, with a particular interest in supporting financial literacy and education.

Recently, Citi and the Citi Foundation announced a 10-year, $200m global financial education commitment, the formation of a new Office of Financial Education and a global initiative designed to encourage its 300,000 employees around the world to devote time to support financial education and other charitable causes.

Under the new initiative, employees may take a day off from work to volunteer for non-profit organizations in their communities.