The Citi Foundation, the philanthropic arm of Citigroup, will donate $50 million to improve youth employment opportunities in 10 large U.S. cities.
The commitment, which will be funded over three years, has been dubbed "Pathways to Progress" and will launch in June.
The money will help big-city mayors and nonprofits train teens for the workforce, create summer job opportunities and encourage entrepreneurship for young adults to form their own businesses.
The foundation's chairman, Edward Skyler, says young adulthood is the best time to reach future workers.
The program will launch in New York, Los Angeles, Chicago, Boston, San Francisco, Miami, Dallas, St. Louis, Newark, N.J., and Washington.
The donation is expected to aid 100,000 people.