Citi Markets and Securities Services in Asia Pacific (APAC) has raised $1 million (USD) in an effort to support the United Nations Development Programme (UNDP) to address COVID-19 challenges across the region.
The fund-raising was a joint effort by several markets and securities services businesses including regional cash equities, rates and currencies, and corporate sales and solutions, to donate a percentage of their revenues during the campaign period of 18 to 22 May.
Citi’s contribution to the UNDP will be utilised for the most vulnerable and marginalised communities across the region, including families below the poverty line, women at risk and migrant workers.
It will be used for providing socio-economic recovery and livelihood support, including food rations, medical supplies and personal protection equipment, to those most impacted from COVID-19, due to loss of livelihood and inaccessibility to healthcare and essential needs.
Stuart Staley, Citi’s APAC head of markets and securities services, said: “These are historic times and the COVID-19 pandemic poses a test for our generation like none we have seen.”
Staley added: “This was an employee-led initiative that was designed to address the disproportionally large impact that the Coronavirus is having on vulnerable communities throughout the APAC region. We are grateful to our clients for their continued support and partnering with us to make a positive difference in the communities that we serve across the region.”
