Citigroup hosts Pan-Asian forum

CITIGROUP Sri Lanka, played host to a Pan-Asian forum on microfinance in crisis situations sponsored by Citigroup held from June 13 to 15.

Organised by the Foundation for Development Co-operation (FDC) and co-sponsored by World Vision, the forum discussed strategies and polices for microfinance institutions operating in communities impacted by natural disasters such as the tsunami, as well as conflict situations and HIV/AIDS.

Citigroup's support for this event is an extension of its contribution to tsunami reconstruction efforts and reflects its long-term commitment to help build the capacity of the microfinance sector acrose the region.

According to Kapila Jayawardena, Citigroup's Country Head in Sri Lanka, "We believe microfinance plays an important role in economic revitalisation, and can be a critical part of tsunami reconstruction efforts.

This forum is an important step to help microfinance institutions in natural disasters. We hope it will also highlight some specific capacity-building needs in tsunami-affected areas for Citigroup and other interested donors."

After the tsunami hit South Asia last December, Citigroup and its employees around the world contributed over US $ 12 million.

The Citigroup Foundation provided US $ 3 million in grants to the Red Cross, local relief organisations, and local rebuilding and reconstruction programs. Over 23,000 employees donated US $ 4.5 million that was matched dollar for dollar by the Citigroup Foundation.