AS a financial sector leader in the Caribbean for over 60 years, Citi has been supporting local communities and through its foundation, provides job skilling initiatives that address the persistent global issue of youth unemployment.

The past year was difficult throughout the region as millions struggled to recover from the ongoing novel coronavirus pandemic and its economic fallout. Young people in Latin America and the Caribbean suffered greatly, with the unemployment rate amongst 15- to 24 year olds reaching 23.8 per cent in the first quarter. Youth already suffered high rates of work informality before the pandemic, further exposing them to the risk of limited career paths in the future. Programmes aimed at preparing youth for these challenges are crucial to the economic reactivation of our communities and because of this, Citi and Citi Foundation have prioritised expanding opportunities for young people across Latin America and the Caribbean.

Strategic partnerships will continue to be crucial in addressing the youth employment challenge particularly as schools, community centres and public sector partners struggle to reach students in a mostly virtual and remote world.

In March of 2021, during the height of the pandemic, the Citi Foundation donated 82 tablets to Mico Practising Primary and Junior High School to support the Ministry of Education’s One Laptop or One Tablet Per Child project launched in partnership with the Private Sector Organisation of Jamaica. The effort was supported through Citi’s employees, and likewise, Citi Trinidad & Tobago joined efforts with the Office of Law Enforcement Policy, Ministry of National Security, primary schools, and non-governmental organisations to distribute 160 electronic tablets. Both initiatives were part of a larger push to narrow the digital learning gap created by the pandemic.

In addition to answering immediate challenges, Citi Foundation pursued longer-term workforce development projects by partnering with trusted government and international organisations, including the Trust for the Americas, the Institute of Law and Economics, the International Organization for Migration, the Organization of American States, and the Technological Institute of the Americas. The projects focus on a range of employability and entrepreneurship skills, including financial education, seed capital, soft skills development, digital certifications and mentoring.

The Citi Foundation helped launch the Trust for the America Democratizing Innovation in the Americas (DIA) lab in Trinidad and Tobago with the objective of providing 300 young innovators with state-of-the-art technology training and access to collaboration spaces that promote STEM education and entrepreneurship.

“I am extremely proud to launch DIA in Trinidad & Tobago. Through this initiative, we will enable students and other young people to contribute to economic growth and development in the country by exposing them to new ideas and tools that will help them reach their full potential,” Citi country officer for Trinidad & Tobago Mitchell De Silva said.

The partnership with the trust began in Kingston where over 1,300 youth have benefited from the programme since its launch in 2016. At least 85 of them are now running entrepreneurship ventures while many others have found employment. In 2021, the Citi Foundation awarded 22 entrepreneurial projects more than US$20,000 via its Pitch Tank Competition. Over US$44,000 has been granted to jump-start enterprises related to renewable fuel alternatives, data collection software, gender equality, sustainable agriculture, recycling, digital marketing, beauty, and self-care, and more in the last two years.

“I have seen first-hand the dedication and ingenuity of Jamaica’s DIA participants. I am always so impressed by their discipline, intelligence, and eagerness to learn. They are serious about improving their communities and Citi is serious about helping to mold Jamaica’s future leaders,” declared Eva Lewis, Citi’s Jamaica country head.

Linda Eddleman, chief executive officer at The Trust for the Americas, stated, “Our DIA programme has been fostering innovation and empowering new generations to engage in social and economic ventures for six years. The Pitch Tank Competition is one of the most popular and highly anticipated events of our work in Jamaica. All participants go through weeks of rigorous boot camp training sessions to polish their venture concepts, presentation skills, and pitching abilities. We applaud all winners for producing out-of-the-box ideas that will boost their community development.”