Tuesday, 10 December 2019 | 17:05 WIB

Citi Indonesia Provides Grant for Financial Education and Literacy for Youths

Citi Indonesia Provides Grant for Financial Education and Literacy for Youths (citiindonesia)

JAKARTA, NETRALNEWS.COM - Citi Indonesia (Citibank), through Citi Peka (Peduli dan Berkarya) as an umbrella for all Corporate Social Responsibility (CSR) programs and activities, has announced the handing of grant worth US $695,000 from Citi Foundation to three selected partners, namely United Nations Educational, Scientific and Cultural Organization (UNESCO), Prestasi Junior Indonesia, and Indonesia Business Links. The grant will be used to carry out various social community program activities from Citi Indonesia.

The symbolical handing over of this grant was conducted by Citi Indonesia's CEO Batara Sianturi, Citi Indonesia Director Country Head of Corporate Affairs Elvera N. Makki, to partner representatives, and witnessed by representatives from Bank Indonesia, the Financial Services Authority (OJK), and the Indonesia Ministry of Tourism and Creative Economy.

The grant would be used to carry out CSR programs for the next year until 2020. The CSR programs are focused on education and financial literacy for youths, empowering economic opportunities, and developing entrepreneurship for youths.

Batara Sianturi, CEO of Citi Indonesia, said that as a bank with a global network that is present in more than 160 countries and jurisdictions, Citi has a mission of enabling growth and economic progress for all stakeholders, including the people and communities where Citi Indonesia operates in Indonesia.

"Therefore, we affirm our commitment to continue supporting economic growth and progress by channeling grant funds to selected partners to jointly run social programs, with the goal of helping overcome social and economic problems, especially for youths in this country," he said.

Data from the Indonesia Central Statistics Agency (BPS) shows that as of August 2019, the number of unemployed people aged 15-24 years dominated the total number of unemployed people, which reaches 18.62 percent. Meanwhile, the highest Open Unemployment Rate (TPT) occurred in Vocational High School (SMK) graduates, namely 10.42 percent of the total 7.05 million unemployed people. This remains an important agenda prioritized by the government, as well as being part of the implementation of the Sustainable Development Goals (SDGs).

Elvera Makki, Director, Country Head of Corporate Affairs at Citi Indonesia, said the focus of Citi Indonesia's Corporate Social Responsibility (CSR) activities in Indonesia is financial education and literacy, entrepreneurship and better economic opportunities, particularly for youths--where Citi sees this as being in harmony with the agenda of the Indonesian government.

In the one year to 2020 period, the Citibank CSR program that is implemented with its partners is targeted to create positive impact on 450 youths in various tourist destination sites, 8,000 students from 25 high school/vocational schools in five cities, and 1,000 youths in the industrial areas.

The implementation of this activity is also aimed at supporting the achievement of Sustainable Development Goals, ranging from education, gender equality, decent work and economic growth, sustainable cities and communities, climate action, as well as partnerships for the goals.

In terms of capacity building for the younger generation, Citi Indonesia is collaborating with UNESCO to hold the 3rd phase of Creative Youth at Indonesia’s Heritage Sites.

This program focuses on youths who are engaged and entrepreneurial in the creative industries at tourist destination sites in Indonesia, such as in the Lake Toba region, Yogyakarta, Borobudur and Prambanan Temples, Kotatua in Jakarta, as well as Bali, among others.

Through this program, beneficiaries in the region will be given training on work skills, creativity and design, entrepreneurship preparation, access to financial literacy and inclusion, and marketing strategies in the digital world.

During its two years of implementation, the program has provided positive benefits to more than 850 youths in the Lake Toba region (Toba Samosir, Samosir, Simalungun, Humbang Hasundutan and North Tapanuli), Yogyakarta, Prambanan and Borobudur Temples, and Kotatua Jakarta.

Together with Prestasi Junior Indonesia, Citi Indonesia will conduct the Youth Sociopreneurs Initiative program. The 2019-2020 period will be the 6th year that this program is implemented, where for the past five years the program has been able to provide education and positive impact on entrepreneurship to more than 35,000 high school and vocational high school students in six cities in Indonesia. The six cities are Jakarta, Bandung , Surabaya, Semarang, Medan and Denpasar.

Through a series of coaching activities, such as Youth Entrepreneur Camp, Indonesia Student Company Competition, Job Shadowing, and Sociopreneur Talks, students are given guidance to establish and operate a student company (Student Company-SC), starting from creating business ideas, planning business and finance strategies for the company, selling products, as well as learning about company liquidation.

SMAN 2 Denpasar, the winner of the 2019 Student Company national level competition, will represent Indonesia at the Asia Pacific Student Company Competition in Guam in 2020.

Moreover, in supporting the expansion of economic opportunities for youths in the areas of Bekasi, Cikarang, Karawang and Bandung Regency, Citi Indonesia is collaborating with Indonesia Business Links to run the 4th stage of the Skilled Youth program.

The program aims to empower the economic potential of young people aged 16-25 years, including vocational students, through education and financial literacy, strengthening character and behavior, training in technical and entrepreneurial skills, as well as mentoring job search and business mentoring.

During the three years of its implementation, the program succeeded in providing positive benefits and impact on more than 1,300 young people in the industrial area.

This program is part of the global commitment "Pathways to Progress" that was initiated by the Citi Foundation, and aims to have a positive impact on 500,000 youths worldwide until 2020, including in Indonesia.

In addition to partnering with these institutions, with the principle of "More than Philanthropy," Citi employees who are members of Citi Volunteers also participate in providing assistance and guidance by sharing their knowledge, experience and expertise. To date, more than 50 percent of Citi employees have participated in various social community programs run by Citi Indonesia.

"We hope that through the various youth entrepreneurship programs and the strengthening of expertise for young people, more and more youths will be able to reach their highest potential in terms of increasing employment opportunities and also entrepreneurial skills, so as to be able to contribute to the development of Indonesia's economy locally and nationally. This is in line with the aspirations of the Indonesian government to advance the country and in supporting the achievement of Sustainable Development Goals," Batara added.