MICROCAPITAL BRIEF: Citi Foundation, Pakistan Microfinance Network Launch Flood Relief Efforts for Microfinance Industry in Pakistan

The Citi Foundation, the charitable arm of global financial services provider Citigroup, has partnered with the Pakistan Microfinance Network (PMN), an association of 20 microfinance providers in Pakistan, to aid the microfinance industry in recovering from the impacts of the Pakistani floods of 2010.

The effort, called the “Microfinance and Disaster Management Capacity Building Programme”, is part of the second phase of Citi’s flood relief, which is aimed at providing Pakistan’s poor with food, medical assistance and financial services. The microfinance program comprises (1) workshops conducted jointly by Citi and PMN to educate microentrepreneurs on managing disaster risk and (2) a publication offered to microfinance institutions (MFIs) outlining best practices for disaster management in developing countries [1,2].

By John Howard-Smith, Research Associate

About Citi Foundation: The Citi Foundation, the charitable arm of global financial services provider Citigroup, provides grants and guarantees focusing on the areas of microfinance, small and growing businesses, education, asset building and neighborhood revitalization. Citi Foundation has total assets of USD 65.8 million, USD 12.3 million of which is allocated to 152 total active investments as of 2009.

About Pakistan Microfinance Network (PMN): The Pakistan Microfinance Network (PMN), founded in 1997, is a network of 20 microfinance providers in Pakistan that aims to promote financial access for the country’s poor. Its main objectives are promoting an enabling environment for microfinance, disseminating information and capacity building, especially for retail microfinance institutions.

[1] The International News: “Citi Foundation joins hands with PMN”, http://www.thenews.com.pk/TodaysPrintDetail.aspx?ID=27624&Cat=3&dt=1/26/2011

[2] Citibank Pakistan: http://www.citi.com/pakistan/consumer/aboutus/press/current/05oct10.htm

MicroCapital’s Microfinance Universe profile: The Citi Foundation, http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Citi+Foundation

MicroCapital’s Microfinance Universe profile: Pakistan Microfinance Network (PMN), http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Pakistan+Microfinance+Network+(PMN)

Browse the MicroCapital Universe and add your entry to the wiki at: http://www.microcapital.org/microfinanceuniverse/

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