April 29, 2014

Deutsche Bank launches new partnership with microlending-platform Kiva

Deutsche Bank has a record of using its expertise to channel capital to projects that would not receive the financing they need based on purely commercial criteria. The long-term partnership between Deutsche Bank and the micro-lending platform starts with Deutsche Bank providing every employee in the US with a USD 25 credit to make a loan to a micro-entrepreneur in the developing world.

A microloan is an essential first step in making a difference in the life of a micro-entrepreneur. Building good businesses often requires loan products that are well-adapted to borrower needs, alternative forms of collateral that make it easier for excluded people to qualify for loans, and business training or development services.

“Bankers for change” supports microentrepreneurs

Deutsche Bank has launched “Bankers for change”, a program developed in partnership with the nonprofit organization Kiva that engages employees to help create opportunity and alleviate poverty around the world. Every employee in the US will receive a credit, courtesy of the Deutsche Bank Americas Foundation, to make a USD 25 loan to a borrower at Kiva’s website. From Kiva’s online platform , employees will be able to search borrowers in more than 70 countries and choose who they wish to support.
This is Kiva’s first broad-scale workplace campaign with a major financial services firm. “Bankers for change” is a three-year partnership; during this time, employees will receive additional opportunities to make more loans. With full employee participation, ”Bankers for change” has the potential to impact more than 500,000 people in the developing world.

In the first 24 hours of the campaign more than 1,200 US employees made a loan to a borrower.
This is a unique opportunity for employees to directly participate in social finance by supporting micro-entrepreneurs who need capital to start or grow their businesses.

Deutsche Bank and microfinance

Deutsche Bank has been the first global bank, which launched an investment fund supporting the microfinance sector in 1997. In 2013, Deutsche Bank secured US $75 million from institutional investors for the Microfinance Enhancement Facility (MEF), a public-private initiative with US $469 million from the public sector and development banks. MEF provides funding to microfinance institutions worldwide, improving access to financial services for micro-entrepreneurs who are running productive small businesses, thus stimulating growth, creating jobs and reducing poverty.

Since Kiva was founded in 2005

1,160,908 Kiva lenders

Potential impact of “Bankers for change”

more than 500,000 people in the developing world

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Financing social change

Helping people help themselves requires innovative financial instruments that serve both social and economic goals. As one of the first globally operating banks, Deutsche Bank recognized early on the opportunities that microloans provide to poor and low-income entrepreneurs.

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