SINGAPORE - Citi Singapore and its business partners on Tuesday (Dec 15) donated some $240,000 to support fund-raising concert ChildAid.

This brings the total amount donated this year to around $390,000. The bank contributed $150,000 to ChildAid in July.

ChildAid is an annual event in support of The Straits Times School Pocket Money Fund (STSPMF) and The Business Times Budding Artists Fund (BTBAF).

STSPMF gives students a monthly allowance for school-related expenses, while BTBAF helps young people pay for lessons in the arts.

Every year, Citi Singapore holds its Citi & Partners Charity Golf event to raise funds for Singaporean children from financially needy families. This year's event, however, was cancelled for the first time in its history due to Covid-19.

The bank then launched the Citi & Partners Support ChildAid initiative last month, roping in computer giant Dell, software solutions provider Nice and tech service provider World Wide Technology, among many others.

The month-long campaign was also organised in conjunction with the SG Cares Giving Week 2020 by National Volunteer and Philanthropy Centre.

Mr Amol Gupte, Citi's Asean head and country officer for Singapore, said: "We are pleased that Citi is able to continue supporting ChildAid, especially in a challenging year. What makes our efforts even more meaningful is that we were able to bring our partners together to support a worthy cause."

Since 2002, Citi has raised close to $6.6 million in support of STSPMF and BTBAF.

Ms Stacey Lacy, Asia-Pacific chief information officer and head of operations and technology, said: "We deeply believe that no child should be deprived of the opportunity to gain knowledge through education, and to pursue his or her passion in the arts. With our deepest gratitude to our partners, we were able to continue making a difference."

This year marks the 16th anniversary of ChildAid, with a virtual concert held in June.

Mr Helmi Yusof, co-chair of ChildAid 2020, said: "2020 has been a challenging year for most of us. But it has hit the parents of our beneficiaries particularly hard - and, by extension, our beneficiaries. Over the years, Citi's donations have helped close to 180,000 financially-disadvantaged children pay for lunch, take transport to and from school, and pursue different art forms for their personal development.

"In 2020, Citi's donations go even further by helping our beneficiaries and their families weather the economic downturn."