For the second time, Citi supports Children and Mother Welfare Society

The "Micro Start Programme" will provide capital to 68 young disadvantaged Bahrainis who aspire to be micro-entrepreneurs.

Micro Start Programme provides small, short-term loans to low income individuals including women, while at the same time, create a system of sustainable credit delivery.

The Micro Start Program has 3 main objectives:

1. -Improving living standard of low income families
2. Increasing the number of beneficiaries especially women
3. Strengthening microfinance institutions to assist entrepreneurs.

Last year Citi Grant was $ 40,000/- and Children & Mother Welfare society has successfully achieved its objectives by giving 157 loans to all low to moderate individual who started their own businesses.

Mrs Turkia Jumman, one of the beneficiaries of Citi grant said:

"Thanks to Citi who made a difference in my life. With a loan of BD350 ($920), I have started a beauty saloon at home. Today I have a good list of regular customers who visit me at home and soon I will apply for another loan to start my own saloon place. I am thinking also to employ one of my relatives to help me in providing beauty services to my customers."

Mayank Malik, Citi General Manager in Bahrain, said: "Citi aims to support and develop the microfinance sector in the region through a combination of community initiatives and by working with the best organizations in the field. Through its extensive presence in Bahrain and proven training record, Children and Mother Welfare Society is best suited to partner with Citi towards the advancement of this worthy cause."

Shaikha Aysha bint Hamad Al Khalifa, Financial Controller of Micro Start Programme, said: "By providing the much needed help to low income families will help alleviate some of the unemployment issues among young Bahrainis and get them to become entrepreneurs. Citi's contribution to our program will indeed play a major role in its success."

Citi has been in the Arab World for nearly 50 years and continues to view the region as critical to its global franchise.

It is currently present in ten Arab countries including Egypt, UAE, Lebanon, Jordan, Tunisia, Morocco, Algeria, Bahrain, Qatar and Kuwait.

Citi Foundation's approach to microfinance is to expand outreach to millions more low-income borrowers by increasing the capacity of MFIs and mobilizing capital; Thefore to build and preserve borrowers' assets via savings, housing finance, remittances, insurance and financial education.