NEW YORK (AP) — The Citi Foundation, the philanthropic arm of Citigroup Inc., will donate $50 million to improve youth employment opportunities in 10 large U.S. cities, the chairman of the organization said.
The program, announced Monday, will launch in New York, Los Angeles, Chicago, Boston, San Francisco, Miami, Dallas, St. Louis, Newark, N.J., and Washington.
The commitment, which will be funded over three years, has been dubbed “Pathways to Progress.” The organization has partnered with the big-city mayors and nonprofits to train teens for the workforce, create summer jobs and encourage young adults to form their own businesses.
“We know that a bank can’t create permanent jobs directly ... but we want to help young people gain skills so they can join the labor force,” said Edward Skyler, chairman of the Citi Foundation. “As people get older, that gets harder and harder. This is the best opportunity we have.”
The donation will be directed to nonprofit groups that will work with mayor’s offices. The project’s first wave should help about 100,000 people total, Skyler said.