Citi Foundation has announced its first-ever Global Innovation Challenge to help scale the impact of non-profits around the world that are developing innovative solutions to improve food security.
The challenge will provide a collective $25 million to 50 organisations to support the piloting or expansion of ideas and projects that are designed to address this issue and strengthen the physical and financial health of low-income families and communities.
With 770 million people suffering from some form of malnutrition around the world, food security is one of today’s top global crises. A recent study from Citi Global Perspectives and Solutions (GPS) found that the estimated impact of malnutrition on the global economy could be as high as US$3.5 trillion per year — or close to US$500 for every individual on the planet — stemming from record high food prices and other macro-economic factors that have led to civil unrest, global displacement and more.
“Far too many families around the world face the daily struggle of not knowing when and where their next meal will come from,” said Brandee McHale, president of Citi Foundation and head of Citi Community Investing and Development. “We understand the economic factors that contribute to this ever-growing crisis, and our goal with this request for proposals (RFP) is to help empower diverse, mission-driven non-profits that are pioneering game-changing, scalable solutions in their communities.”
Citi Foundation said that for the RFP it will prioritise projects in four areas:
• Access: Support efforts that increase access to affordable and healthy food to low-income communities.
• Affordability: Improve food affordability through community finance efforts that help reduce the financial burden placed on low-income communities.
• Availability: Address challenges in the food supply chain that lead to positive community benefits, such as the creation of new jobs and businesses.
• Resilience: Increase the number of available resources that enable low-income communities to prepare for and respond to disruptions in food security during crises more effectively.
The deadline to register is March 22, 2023, at 4:00 pm. The foundation is urging people who want more information on this opportunity including the eligibility requirements and target geographies, to visit: www.citifoundation.com/challenge