Kolkata / Mumbai : The Citi Foundation today announced an investment of Rs 130 million (US$2 million) in six youth focused programs that aim to increase the employability and entrepreneurship opportunities of 13,000 low income youth, aged between 16-25 years, across India. These grants have been provided through the 2016 India Innovation Grant Program (IIGP), part of Pathways to Progress, the Citi Foundation’s global initiative to prepare young disadvantaged youth build an entrepreneurial mindset, acquire leadership, financial and workplace skills, and begin to engage in the formal economy through a first job.
The 2016 IIGP, now in its third year, is focused on skilling youth and connecting them with economic opportunities that will, in turn propel economic progress and inclusion in India. In its previous two editions, the 2015 and 2014 IIGPs invested Rs 244 million (close to USD4 million), in fifteen innovative and sustainable financial education and capability programs to benefit more than 880,000 individuals in the country.
Citi India Public Affairs Officer, Debasis Ghosh said, “The India Innovation Grant Program is about supporting India’s development sector’s tremendous talent and ingenuity, and we are extremely encouraged by the progress our partners have been making. Through the 2016 IIGP, which is well aligned with the Government of India’s important ‘Skill India’ mission, we are humbled to be a part of this journey, empowering 13,000 youth from low income families to be a part of India’s growth story.”
In India, the Citi Foundation’s overall grant program is focused on addressing the socio-economic challenges with innovative and strategic grants. The programs supported this year respond to the findings of Accelerating Pathways research that the Citi Foundation commissioned with The Economist Intelligence Unit. (EOIC)
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