Citi Foundation, IRC partner to mentor refugee youth in entrepreneurship

AMMAN — A new partnership launched on Wednesday between the Citi Foundation and the International Rescue Committee (IRC) will provide refugees, displaced youth and vulnerable young people from host communities with support to generate a reliable income in order to contribute to their local economy, a statement from the foundation said.

The two-year project, titled “Rescuing Futures” will help around 1,000 young people in Greece, Jordan and Nigeria, to start their own businesses. 

 “The IRC’s partnership with the Citi Foundation represents a best-in-class global public-private partnership,” David Miliband, president and CEO of the IRC, said in the statement.  

Sixty per cent of the world’s refugees and 80 per cent of internally displaced people are currently living in urban areas, mostly living in developing countries that can barely afford to host them, according to the statement. 

Jim Cowles, CEO of Citi Europe Middle East and Africa (EMEA) said in the statement: “Our Pathways to Progress initiative is our solution to secure positive futures for vulnerable young people… Given today’s context, Rescuing Futures can address inequality of opportunity, and positively impact community wellbeing and economic growth.”

The Citi Foundation’s Pathways to Progress initiative has pledged $100 million to reach 500,000 young people with entrepreneurship and employability training before 2020, the statement said.

Alongside the $2 million grant from the Citi Foundation, a further $8 million has been committed across EMEA to support programmes under the Citi Foundation’s Pathways to Progress initiative and contribute to UN Sustainable Development Goal 8: reducing youth unemployment. 

Grants include $1.6 million to Youth Business International, $1.3 million to TechnoServe, $450,000 to United States African Development Foundation, and $450,000 to Ruwwad Al Tanmeya, the statement concluded.