On Monday, March 14, Citi CEO Vikram Pandit sent out the following message to our global employees announcing our disaster relief efforts in Japan, which includes $2.4 million in aid efforts from Citi and the Citi Foundation. Additionally, Citi's customers and employees are being driven to donate directly on Citi's customized donation page on the American Red Cross website: http://american.redcross.org/citigroup-pub.
Citi Business Initiatives include:
We will continue to update you on our business initiatives and relief efforts as more information becomes available.
Our hearts go out to the people of Japan as they cope with one of the worst disasters in recorded history. Citi has been doing business in Japan since 1902 and our commitment to the country and its people is unwavering. We are doing everything we can to protect the safety of our colleagues and to help the Japanese people meet urgent humanitarian needs and, over the longer term, recover from the devastation.
We've established a Disaster Relief Fund benefiting the Japanese Red Cross Society, with an initial contribution of Â¥100 million (USD $1.2 million) from Citi's Asia Pacific businesses. The Citi Foundation has now pledged $1.2 million for disaster relief efforts, raising our total donation to USD $2.4 million or Â¥200 million.
We are also establishing accounts so that colleagues, clients and customers can contribute to the relief efforts. We are working on customer support solutions to waive fees and charges, allowing Citi customers to access the services and products they need in this time of hardship. Information will be posted prominently on the Citigroup.net home page as soon as it is available.
In more than a century of work in Japan, Citi has forged deep relationships with the Japanese people. Helping them in their hour of need is not just an obligation; it's a heartfelt gesture of gratitude and goodwill for our friends and partners in a country that means so much to us.