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As India experiences an increase in COVID-19 cases, Global financial institution, Citi has announced an additional Rs 200 crore (approx $27 million) to support the COVID-19 relief program in India for the next three financial years.
“Rs 75 crore ($10 million) from the total pledge amount will be allocated for procurement of oxygen supplies, adding beds to hospitals, diagnostic testing systems, personal protection kits, and other supplies for India’s frontline healthcare workers. The funds will also be utilized towards food and hygiene supplies for low-income families,” Citi in its statement said.
“Additional pledged amount for India will also be used to fund public and private healthcare infrastructure and to impart employable skills to the youth, thereby promoting economic revival, important for India’s recovery,” the statement added.
Speaking on the commitment, Peter Babej, Asia Pacific CEO of Citi, said, “We have been in India for more than 100 years, and the country is home to over 20,000 of our colleagues. We are determined to support India through this unprecedented health crisis.”
“Our efforts in India are an important part of our global commitment to fight COVID. Since the onset of the pandemic, we have focused on assisting communities around the world, including through financial support of $100 million from Citi and the Citi Foundation,” Babej added.
Commenting on the development, Ashu Khullar, India CEO of Citi, said, “The resurgence in India, which is now overwhelming the country’s healthcare system, calls for efforts from all sections of our society to come together to bring India back on track. This is an extraordinary situation and while the need of the hour is for medical equipment, it is equally important to reinforce the country’s healthcare infrastructure for citizens’ health and safety.”