1. For Immediate Release
Citigroup Inc.
Singapore – 30 April 2005
Citibank-YMCA Youth For Causes Endorsed As A National Event
Of The President’s Challenge 2005
The Citibank-YMCA Youth For Causes programme has received the endorsement of the President
of the Republic of Singapore to be incorporated under the auspices of the President’s Challenge
2005. It is one of 19 nation-wide community programmes in Singapore to receive this prestigious
national recognition.
The President’s Challenge is an annual series of community-based activities initiated by His
Excellency Mr. S R Nathan, President of the Republic of Singapore, to rally the public towards
helping those in need of assistance. His call is for Singaporeans to create a society where showing
kindness, and having a generous spirit of giving and caring for the less fortunate in our midst is part
of our social ethos, and in doing so, building a more cohesive society.
Citibank-YMCA Youth For Causes is essentially a social entrepreneurship programme that provides
seed funding to youths to develop creative ideas to promote a social cause of their choice, and
raise funds for charitable organisations. This year’s programme will take off with S$160,000 in seed
funding from the Citigroup Foundation, to be ‘invested’ in up to 100 creative community projects,
supporting a greater diversity of social causes. This includes charitable and social services for the
underprivileged, arts and cultural heritage, sports development, environmental preservation and
public health.
Mr. Jonathan Larsen, Citibank's Country Business Manager, Global Consumer Banking and Chief
Executive Officer, Citibank Singapore Limited said, "Citibank has had a long and illustrious history
in Singapore of more than 100 years. With our local incorporation in January this year, we are now
part of the Singapore scene more than ever before. With this comes a special responsibility as a
corporate citizen to support and contribute to the community in which our customers
and employees work and live. The Citibank-YMCA Youth for Causes programme provides us with a
great opportunity to give to the community by supporting budding entrepreneurs in Singapore."
“As a prototype of the social enterprise, YMCA of Singapore’s objective is to help the social welfare
sector build up its resources, so that it can continue making a difference to the community over the
long-term. The Citibank-YMCA Youth For Causes programme infuses the spirit of entrepreneurship
into community work. It is part of service learning, and participating youths and non-profit
organisations are given the opportunity to experience what it takes to self-initiate and sustain a
business for a social cause. It is an ideal catalyst to jump-start social enterprises and inspire
youths to make volunteerism a part of their lives,” said Mr David Lua, President of the YMCA of
Singapore.

2. President S R Nathan graced the launch of Citibank-YMCA Youth For Causes 2005 today as
guest-of-honour. The launch was also marked by a “Social Enterprise Youth Forum” with more
than 200 community leaders, volunteers, and educators attending. The Forum was chaired by Ms.
Eunice Olsen, Nominated Member of Parliament, with a panel comprising renowned local
entrepreneurs and community leaders including Ms. Elim Chew, Managing Director of 77th
Street,
Mrs. Ng Poh Suan, Director of Beyond Imagination, Mr. Adrin Loi, Executive Chairman of Ya Kun
International, and Mr. Wilson Cheah, Director of Hotel Properties Ltd and Pinedale Pte Ltd.
Piloted in 2002 to commemorate the centennial celebrations of both Citibank and YMCA in
Singapore, the Citibank-YMCA Youth For Causes programme has proven to be a runaway
success. Participants from the pilot programme accomplished a four-fold return on the S$40,000 in
seed funds given to them, raising more than S$170,000 and mobilising over 1,400 volunteers for
various non-profit organisations over a short duration of 8 weeks. The 2004 programme saw similar
success, with the participants raising S$220,000 from seed funding of S$80,000, and mobilising
5,000 volunteers.
The success of the Citibank-YMCA Youth For Causes programme is reinforced by enthusiastic
volunteer mentors from Citibank and YMCA of Singapore, who provide the participating groups with
project management supervision and guidance throughout the duration of their projects. These
mentors not only give the groups invaluable creative inputs, but also help them to overcome
challenges, and gain essential life skills budgeting, managing a project and teamwork. Since the
programme’s pilot launch in 2002, more than 150 working professionals from Citibank and the
social sector had been involved in youth mentorship.
For more information on the programme, log on to the Citibank-YMCA Youth For Causes website
at www.youthforcauses.com or pick up a brochure available at YMCA of Singapore branches and
various non-profit organisations.
About Citigroup:
Citigroup (NYSE: C), the pre-eminent global financial services company has some 200 million
customer accounts and does business in more than 100 countries, providing consumers,
corporations, governments and institutions with a broad range of financial products and services,
including consumer banking and credit, corporate and investment banking, insurance, securities
brokerage, and asset management. Major brand names under Citigroup’s trademark red umbrella
include Citibank, CitiFinancial, Primerica, Smith Barney, Banamex, and Travelers Life and Annuity.
Additional information may be found at www.citigroup.com.
Citigroup in the Asia Pacific Community
In Asia Pacific, the main thrusts of Citigroup’s philanthropic efforts have been education, financial
literacy and sustainable community development. Citigroup has pioneered and funded a number of
partnerships with not-for-profit organisations including micro-finance institutions in the Philippines,
Indonesia, China, Vietnam, Malaysia and Korea, which provide credit to the poor. Citigroup
employees volunteer their time to train the staff of micro-finance institutions as well as to teach
practical banking courses at universities in Taipei, Shanghai, Tokyo, Seoul and Singapore.

3. About YMCA Singapore
As a Christian organisation, affiliated worldwide, the YMCA of Singapore seeks to serve and enrich
all members of the community, regardless of race, language or religion, through wholesome
programmes to develop Body, Mind and Spirit.
YMCA provides multifarious facilities within its premises, all aimed at achieving the objectives of
the Y movement, namely guiding the youths of our community so that they will ultimately become
worthy citizens of their nations.
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Media Contacts:
Citibank Singapore Ltd
Magdalene Tan
Public Affairs & Communications
Global Consumer Banking
Tel: 6328 6040
Fax: 6328 3107
Email: magdalene.tan@citigroup.com
YMCA of Singapore
Albert Ching
Assistant General Secretary
Community Development
YMCA of Singapore
Tel: 6430 2270
Fax: 6336 8003
Email: albertching@ymca.org.sg