Microfinance Focus, November 23, 2010: Citigroup on Monday has launched a new Global Resource website on Financial Capability to highlight sector innovation and thought leadership in the areas of financial literacy, behavior change, financial inclusion and asset building and preservation. The website aims to be a center for resource and best practices sharing for the financial capability community.

Since 2004, Citi and the Citi Foundation have invested over $167 million in financial capability programs as part of a 10-year, $200 million commitment.

“Citi has been advancing the field of financial education for over 20 years,” said Vikram Pandit, CEO of Citi. “Recently we broadened our focus to include all areas under what we call ‘financial capability.’ Simply providing people with financial knowledge is not enough; it’s also about financial inclusion and changing behavior.”

Citi’s Financial Capability website can be located at financialcapability.citi.com. The site offers specific information on Citi’s Financial Capability programs and partnerships, as well as research and reports from a variety of leading sources around the world. Information can be broken down by topic or region, and the site includes a section spotlighting the latest news from the field.

Monique Cohen, president of Microfinance Opportunities, said, “We are pleased to be part of the website launch and to be working with Citi on activities that improve financial capabilities and empower people to exercise their options as they seek to access financial services.”