The initiative gives the "Team Citi" Olympians and Paralympians - alpine skiers Picabo Street, Alana Nichols and Ted Ligety, speed skater Dan Jansen, figure skater Evan Lysacek, ice hockey player Julie Chu, luger Erin Hamlin, Nordic skier Billy Demong and ice sledge hockey player Rico Roman - the chance to give something back to the sports that have helped them reach their potential.

The funding will be allocated to sport schemes chosen by the athletes to boost access to winter sports for inner city youth and funding for Paralympic hopefuls.

"It is an honour to be a member of Team Citi," said Olympic champion Ligety.

"I, along with my fellow Team Citi athletes, know the importance of being supported along our Olympic and Paralympic journey, and through the Every Step of the Way programme, we can give back and help the next generation of athletes."

After originally launching the "Every Step of the Way" programme in 2012, Citi has so far donated a total of $1 million (£620,000/€725,000) to the cause, providing afterschool and recreational sport schemes, giving athletes equipment and access to facilities, track and field training, gymnastics competitions and swimming lessons.

The Team Citi Olympians and Paralympians will now have the chance to give something back to the sports that have helped them reach their potential

"We are thrilled that Citi is continuing its Every Step of the Way programme through the Sochi 2014 Games," Lisa Baird, USOC chief marketing officer, said.

"Citi's programme creates a lasting impact by enabling the next generation of US hopefuls and athletes to thrive, and giving fans a meaningful way to connect with Team USA."

The public is also invited to participate in the initiative by clicking here to allocate a portion of the donation to the various organisations.

"Citi is proud to support Team USA through 2016 while providing much needed support for the future success of the next generation of Olympic and Paralympic hopefuls," Citi chief executive Michael Corbat said.

"Giving every American the chance to support the US Olympic and Paralympic teams is a great way to share the Olympic spirit with clients, fans and communities across the country."

For more details click here.

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