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Citi Foundation funding gives boost to 15 microenterprise organisations

With funding from the Citi Foundation, 15 nonprofit community-based organisations across the United States that help entrepreneurs start and grow their businesses will be able to hire graduate students as summer interns this year.

This is the third consecutive year that Citi Foundation has supported the "Citi Aspen Interns Project". Funding allows each organisation to recruit and hire an intern, who receives a $7,000 stipend. As part of the $250,000 program, the Citi Foundation is also funding researchers at FIELD, the Microenterprise Fund for Innovation, Effectiveness, Learning and Dissemination, to manage the project and provide the interns with data collection training. FIELD is part of the Washington, D.C.-based Aspen Institute.

Microenterprises are defined as very small businesses capitalised with $35,000 or less and employing five or fewer people. Read more (Citi Foundation/CSRwire)

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11 February 2009