Friday, January 15, 2010

Citigroup Says It Will Donate $2M In Haiti Aid

NEW YORK-Citigroup Inc. said Friday it will donate $2 million to relief from Tuesday's earthquake in Haiti.

The New York bank said it will give $250,000 to the American Red Cross to be used for immediate relief. The rest will be donated to local partners for reconstruction efforts. The company also said it is opening a fund to which employees can donate.

Citigroup said it has a partnership with the Pan American Development Foundation, which stockpiles supplies and deploys them in response to crises in Latin America and the Caribbean. Citigroup and the foundation have deployed supplies to Haiti, the company said.

Citigroup said it has done business in Haiti since 1971.

Source: BusinessWeek

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