Officials from Citibank, the Kazakh government, and the Eurasia Foundation gathered today for the announcement of Citibanks donation of $25,000 to the Atyrau Business Contact Development Center. This will be supplemented by a $100,000 grant to the Center to support a micro-credit program. Working in collaboration with the Eurasia Foundation, Citibank representative Reza Ghaffari stated, "With this donation, Citibank signals its commitment to small business development in Atyrau and Kazakhstan. We believe that the growth of small and medium-sized businesses in Kazakhstan will be key to the countrys efforts to become a significant player in the international marketplace. Citibank is proud to play a part in building a stable economy for Kazakhstan."

The Atyrau Business Development Center provides business planning and consulting services to new entrepreneurs in Atyrau City. Opened this spring with support from the United Nations Development Project and Chevron, the Center has already helped entrepreneurs to secure more than $1,000,000 in loans. The Center is directed and staffed by local employees and receives ongoing assistance from outside consultants.

Citibanks donation will provide the center with a multi-media computer that will be used to develop brochures, materials and a "Yellow Pages" of Atyrau. With assistance from Eurasia Foundation staff, the Center is also developing a database of local and international firms that operate in the Atyrau region. Citibank will soon be donating additional computers and materials to enable the Center to provide increased services to more entrepreneurs in the Atyrau community.

Citibank. Citibank Kazakhstan is a fully licensed commercial bank. It opened for business in July 1998 and today it serves clients all over Kazakhstan, from Ekibastuz to Atyrau and from Almaty to Karaganda. It is headquartered in Almaty at 41 Kazibek Bi Street. Citibank Kazakhstan is a fully owned subsidiary of Citibank, the banking arm of Citigroup. Citigroup is the worlds largest provider of financial services with assets exceeding USD 700 billion, and with a presence in 102 countries. The Citigroup subsidiaries also include Solomon Smith Barney, The Travellers Insurance, and Primerica Financial Services.

Eurasia Foundation. The Eurasia Foundation is an independently managed grant and loan making organization headquartered in Washington, DC. With a mandate to support organizations working at the grass roots, the Foundation fosters the growth of democratic institutions and a viable market economy in Kazakhstan. Through an open-door policy designed to encourage individual empowerment and civic initiative, the Foundation responds to local funding needs by providing financial support to Kazakh organizations for economic development, civic initiative, educational advancement, and independent media.