Deutsche Bank Securities Inc. today announced that it has fully obligated its $2 million commitment to relief and recovery efforts for the city of New Orleans. As part of its initiative, Deutsche Bank extended over $500,000 in awards to thirteen community leaders through its New Orleans Neighborhood Development Initiative. This program was created to strengthen neighborhood-based nonprofits in their efforts to build affordable housing and restore vitality to severely damaged communities in New Orleans. Recipients include: A Shared Initiative, Inc.; Jericho Road Episcopal; Broadmoor Development Corporation; NHS of New Orleans; New Orleans Neighborhood Development Collaborative; Lower 9th Ward Neighborhood Empowerment Network Assn; Preservation Resource Center of New Orleans; Puentes New Orleans; Neighborhood Development Foundation; COFFEE, Inc.; Mary Queen of Viet Nam; Louisiana Association of Nonprofits; Providence Housing.
Deutsche Bank has also previously extended committed support for a number of emergency relief and rebuilding efforts. Initially the bank provided $500,000 in combined support to the William J. Clinton Foundation and the United States Fund for UNICEF to help those most vulnerable to the flooding and devastation. Another major commitment of $200,000 was made to Living Cities, a partnership of financial institutions, private foundations and federal government agencies that work to improve America’s urban neighborhoods. In addition, Deutsche Bank issued a number of grants designed to preserve New Orleans unique cultural heritage and seed the economic recovery of many affected small business.
“New Orleans has both unique challenges in recovering from the devastating impacts of hurricanes Katrina and Rita,” said Gary Hattem, President, Deutsche Bank Americas Foundation. “We are hopeful that the bank’s support can facilitate on-the-ground efforts to bring the community closer as they begin the recovery process.”
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