The charitable division of Citigroup Inc., Citi Foundation, will donate $50 million in funds for 10 large U.S. cities, pointing towards the development of youth employment opportunities.
The assistance aid launching this June, is considered to be "Pathways to Progress", and will be funded over the span of three years. The partnership between Citi Foundation, the city mayors, and nonprofit organizations, to provide training and prepare the younger generation for the work place, is the programs' primary goal. It will also encourage young entrepreneurs to start their own business, and create summer job opportunities.
"We know that a bank can't create permanent jobs directly; if the federal government can't do it, what hope do we have it?" Edward Skyler, chairman of the Citi Foundation, told the AP in an interview.
Cities included for the launching of the program will be declared in New York, Chicago, San Francisco, Miami, Los Angeles, Dallas, Washington, New Jersey, St. Louis, and Newark.
The target of the program is to aid 100,000 people on its introductory wave that is composed by three major elements. AmericCorps program will be establish by the Citi Foundation and a volunteer organization, Points of Light, to all the 10 cities. The teenage benefactors will acquire team-building skills and will develop leadership by volunteering to community service programs. Providing care packages for seniors and veterans, organizing food drives, and school improvement programs, will be part of their effort.
Preparation for prospective job interviews, and starting their own business will be part of their plan to fund a business camp teaching the young participants. Reports of a paid summer job will also be implemented in five cities included in the program which are, New York, Miami, San Francisco, Chicago and Dallas.
Citi Foundation aid was commended by the cities' mayors, together with key constituents of the program, as an act of excellence when lesser help were given by the federal and state government. Commitment on helping the young generation improve plays a vital role in the communities' future.
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