Rebuilding Haiti one step at a time.

May 7, 2010 5:47 PM By Gladys M. Coupet, Citi Country Officer-Haiti

The devastating earthquake that struck my home country of Haiti earlier this year took hundreds of thousands of lives, including five of our Citi colleagues, and continues to impact millions. And while we don't know how long it will take to recover, Citi is taking a major step in the right direction by providing $1 million in charitable contributions to local microfinance institutions -- grants that will help create jobs and contribute to long-term economic development.

The funds will be distributed to three organizations: Fonkoze, FINCA Haiti and SOGESOL -- all experienced microfinancing institutions with impressive records of success here. These groups will extend credit as well as grants to entrepreneurs and small business owners who provide needed services and are the future of the Haitian economy.

The funding announced today is only half of Citi's $2 million commitment to relief and reconstruction efforts in Haiti. Citi has been an active participant in our recovery, and I am so proud of the work my Haitian colleagues have done to help rebuild our nation. I am also proud of the support we've received from the Citi family around the world.

Citi and the Citi Foundation have a long history in Haiti, where we have been part of the community since 1971. We are committed to our presence here and to helping build a better future for the Haitian people.