[By NBC-1TV E. H Kim]Citibank Korea (CEO Yung-Ku Ha)pledged to sponsor Korea Microcredit Joyful Union (Executive Director Myeong-Kee Chung) at the “CKI-Joyful Union Microcredit Business Sponsorship Signing Ceremony” that was held at 9th Fl. Meeting Room, Citibank Korea HQ Bldg., Jan. 30, 2012. The ceremony started with the Union’s presentation on the result of CKI-sponsored projects, which was followed by CKI’s donation of KRW 104 million (USD 100,000) and photo op session.

With the fund given last year, Joyful Union developed a “socially responsible investment” product, a mixture of investment and donation, to launch a loan business for supporting the livelihood of low income families for the first time in the country. It has also established a system where retired financial experts provide post management and business consulting services through pro bono activities. Together with this, CKI sponsored the union’s participation in the European Microfinance Network (EMN) training sessions in an effort to develop a microcredit model that fits Korea and meets global standards at the same time. The executives and employees of the global bank offered the microfinance institution technological and advisory services about how to develop a repayment management system and how to manage repayment rate by sharing their talents and expertise.