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CITI foundation provides $50,000 grant to INJAZ UAE IN SUPPORT OF BANKS IN ACTION AND ENTREPRENEURIAL MASTERCLASS PROGRAMS TARGETING 1375 UAE STUDENTS

Dubai - Citi Foundation, Citi’s social investment arm, today announced a $50,000 grant to Injaz UAE, an affiliate of JA Worldwide® (Junior Achievement), for the implementation of JA Banks in Action at the Higher Colleges of Technology, and the JA Entrepreneurship Masterclass (EMC) at 15 schools around the UAE reaching out to 1375 UAE students.

The announcement was made at the heels of the JA Regional Board Meeting held today in Dubai, attended by Francesco Vanni d’Archirafi, Chief Executive Officer of Global Transaction Services at Citi, and Chairman of Junior Achievement - Young Enterprise Europe. The Board reviewed McKinsey & Company’s commissioned study on JA’s progress in the Arab world, and discussed JA’s achievements and milestones since its formal inception in the region in 2002.

"Citi is a strategic partner to JA Worldwide through annual grants, volunteer efforts and active membership in JA’s local, regional and global boards. The bank is a strong supporter of JA programs across the Middle East as we believe they are invaluable to everyone involved," Francesco Vanni d’Archirafi said.

“JA's programs provide students with practical entrepreneurship, financial literacy and work readiness skills that are a vital supplement to the academic syllabus taught at school. The courses are delivered by volunteers from the member companies that work with JA, who also benefit significantly from the broader engagement and development of their talent, the lifeblood of their business," continued Mr. Vanni d’Archirafi.

Citi is a global partner with JA Worldwide® (Junior Achievement) which provides hands-on, experiential learning to over 9 million students annually. Across the globe, JA has nearly 385,000 volunteers teaching over 360,000 classes. In the Middle East, INJAZ Al-Arab, JA’s regional arm, has trained 300,000 Arab students with the help of 10,000 corporate volunteers and partnerships with ministries of education since its inception in 1999.

The Higher Colleges of Technology is a strategic partner to both Citi and Injaz UAE. Founded in 1988, the HCT now boast 14 campuses across the UAE with more than 17,000 students. The Colleges are dedicated to the delivery of top technical and professional programs, and to graduate students with relevant skills to UAE’s dynamic labor market.

A truly international program, the Banks in Action (BIA) program will benefit 250 HCT students eager to intimate themselves with the banking environment. Spanning eight consecutive sessions, this volunteer-led program teaches students about the banking industry and career opportunities in the sector through virtual simulations and competitions in which teams of students assume the role of bankers and make banking decisions.

On the other hand, the JA Entrepreneurship Masterclass (EMC) workshop is designed to take 1125 target students in 12 schools through an interactive challenge of setting up and managing their own businesses. It also brings the next generation in close contact with the current workforce and entrepreneurs to help them understand the basic skills required to succeed in the private sector.

A half-day seminar, EMC challenges students to plan their own careers as entrepreneurs and to identify key entrepreneurial aptitudes and skills, while training them on leveraging support for their enterprises, including finance and professional advice.

Both programs are highly interactive, utilizing online computer simulations, “company” competitions and teamwork. Students form groups to operate banks and private enterprises, and face up to a set of challenging situations experienced in the real world. They make “corporate” decisions and choices that would, in turn, affect their ability to survive and thrive.

“We believe that by developing the skill set of the next generation through our people, we can make a positive difference in more than 100 communities that host us worldwide,” remarked Mr. Vanni d’Archirafi.

Citi has been in the Arab world for nearly 50 years and continues to view the region as critical to its global franchise. It is currently present in 10 Arab countries including Egypt, UAE, Lebanon, Jordan, Tunisia, Morocco, Algeria, Bahrain, Qatar and Kuwait.