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Lebanon: Citi Foundation Renews Support for Lebanese American University


Beirut – Lebanese American University (LAU) announced today that it has received a USD 20,000 grant from the Citi Foundation towards LAU’s financial aid program for the 2008-2009 academic year.

Provided for the fourth year in a row, the grant will be used to provide Citi Scholarships to 10 qualifying students pursuing bachelor degrees at LAU’s School of Business.

“As LAU has successfully launched the public phase of its first systematic and meticulously planned fundraising campaign, ‘The Legacy and the Promise-LAU Campaign for Excellence’, we still believe that proper education and enriching academic support are the answer to the challenges that our youth are currently facing, especially the current economic crisis. Through their fruitful partnership, LAU and Citibank will continue to provide the opportunity for the youth of Lebanon and this region to overcome any challenge they may encounter and earn an excellent education, an education that will help them make the world a better and safer place for all of us,” said Dr. Joseph G. Jabbra, President of LAU.

Walter Siouffi, General Manager for Citi in Lebanon, said: “We are proud to be associated with the LAU and are pleased to be able to renew our commitment to contribute to the financial education of deserving students at their prominent School of Business. We look forward to partnering with the university in other strategic initiatives.”

Citi’s presence in Lebanon dates back to the 1950s. Since re-establishing its fully licensed branch in Beirut in 1994, the Bank has evolved into an active corporate citizen, with a particular interest in supporting financial literacy and education.

Recently, Citi and the Citi Foundation announced a 10-year, $200 million global financial education commitment, the formation of a new Office of Financial Education and a global initiative designed to encourage its 300,000 employees around the world to devote time to support financial education and other charitable causes. Under the new initiative, employees may take a day off from work to volunteer for non-profit organizations in their communities.


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