Citigroup Corporate and Investment Banking and the UN WFP on Thursday announced the launch of the WFP Emergency Network, a partnership between the private sector and WFP, the world's largest humanitarian organisation and the United Nation's logistics coordinator.

"In times of disaster -- whether it's a tsunami, or an earthquake, or a hurricane -- the private sector provides aid because it's the right thing to do," said Michael Klein, co-president of Citigroup Corporate and Investment Banking.

"We are delighted," Klein said, "to help WFP enhance its ability to prepare for disaster through a grant from the Citigroup Foundation. The grant will fund a strategic WFP initiative styled SENAC (Strengthening Emergency Needs Assessment Capacity)."

"As the rate of emergencies increases, the WFP is faced with an unprecedented challenge of developing a faster and more efficient response to potential crises worldwide," said Amer Daoudi, associate director of the Operations and Transport Division at WFP Headquarters in Rome. "Thanks to Citigroup and the launch of the Emergency Network."