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WORLD | Oct 13, 2024

Citi Foundation selects 10 NGOs in LATAM to receive  US $5m to fight homelessness

/ Our Today

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The Citi Foundation has announced the 10 organizations in Latam that were selected to each receive $500,000 in catalytic funding as part of the 2024 Global Innovation Challenge, which aims to support solutions that address homelessness.

Argentina, Brasil, Colombia, Costa Rica, Ecuador, El Salvador, México, Peru & Trinidad y Tobago were the awarded countries. 

Housing insecurity impacts communities globally, with the United Nations estimating that more than 1.8 billion people around the world lack adequate housing and basic services. This latest philanthropic investment builds on Citi and the Citi Foundation’s efforts to catalyze economic opportunity globally. 

“Citi and the Citi Foundation reiterate their commitment to the community. As a leading financial institution, we invest in these organizations because we believe they can play an important role in finding scalable solutions to this social problem in communities around the world, and particularly in Latin America,” said Julio Figueroa, Citi Head for Latin America.

Homelessness is a complex issue, and the Citi Foundation has been inspired by the level of innovation and impact it saw from applicants and their efforts to target the diverse needs of communities around the world. Programmes funded by these grants will be implemented over the next two years and grantees will have access to a learning community facilitated by IDEO.org, a nonprofit focused on designing products and services in the social impact sector.

Through the learning community, grantees will have the opportunity to build deeper connections, share lessons learned and exchange best practices.

Brandee McHale, president of the Citi Foundation. (Photo: Citi Group)

“Since launching the inaugural Global Innovation Challenge in early 2023, we’ve continued to see how community-based solutions are poised to accelerate impact on the ground”, said Brandee McHale, President of the Citi Foundation and Head of Citi Community Investing & Development. “We call this grant support ‘catalytic’ given the multiplier effect it can have on low-income communities. Each organization will not only directly impact the lives of people in crisis today, but also create models that can be replicated in other communities around the world tomorrow.”

In January 2024, the Citi Foundation issued this Global Innovation Challenge Request for Proposals (RFP).

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