Deutsche Bank Americas Foundation provides financing to E+Co
The Deutsche Bank Americas Foundation today announced it has provided a $400,000 loan to E+Co, an award-winning non-profit investment company that invests in clean energy businesses in Africa, Asia and Latin America in order to help combat climate change and poverty. The loan was originated from the Foundation’s New Initiatives Fund, which provides financing to support social enterprises demonstrating financial, social and environmental returns.
E+Co will use the funds to invest in a number of companies in its portfolio, including a biomass energy project developer in Cambodia and a manufacturer of energy-efficient cook stoves in Ghana. Both businesses offset enormous amounts of carbon dioxide emissions and save local consumers money.
“Deutsche Bank Americas Foundation and the Community Development Finance Group are increasingly investing in projects and initiatives that tackle climate change while focusing on the particular needs of low income communities,” said Gary Hattem, President of the Deutsche Bank Americas Foundation. “E+Co is an excellent example of an initiative which delivers exceptional value on both fronts.”
“E+Co is pleased to welcome Deutsche Bank as a partner in support of its mission to combat climate change and fuel progress worldwide," said Christine Eibs Singer, Executive Vice President of E+Co. “With the support of forward-thinking and innovative funders like Deutsche Bank, this type of high-impact investing will allow E+Co to expand its market-driven approach that leverages the immense power of local entrepreneurs to create a cleaner, healthier and more prosperous planet."
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About Deutsche Bank
Deutsche Bank is a leading global investment bank with a strong and profitable private clients franchise. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With 80,253 employees in 75 countries, Deutsche Bank offers unparalleled financial services throughout the world. The bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.
The Deutsche Bank Americas Foundation administers the philanthropic activities of Deutsche Bank within the United States, Latin America and Canada. Together, the Bank's Community Development Group and Foundation carry out the firm's corporate citizenship commitments through a program of loans, investments and grants. Based in New York City, the Foundation supports nonprofit organizations that concentrate on community development, education, and the arts.
E+Co is non-profit investment company that invests business support services and capital in energy businesses in Africa, Asia and Latin America. With almost 15 years of experience and offices in Bolivia, Brazil, China, Costa Rica, Ghana, the Netherlands, South Africa, Thailand and the United States, E+Co's innovative business model provides lasting solutions to climate change and poverty.