Over 150 million people suffer from visual impairments worldwide, of which 75% are easily treatable or preventable. Deutsche Bank’s newest structured social investment fund, Eye Fund I, provides a new avenue to provide health care via eye care hospitals that serve the poor in Asia, Africa, and Latin America. Identified in collaboration with Ashoka and the International Association for the Prevention of Blindness, these high-quality hospitals are social ventures that use fees from affluent patients to cross-subsidize care for the poor, a model that is replicable to other health care and social service fields. The $15 million Eye Fund attracts socially motivated commercial investors by utilizing a $1 million equity commitment from the New Initiatives Fund as a credit enhancement alongside other PRIs and funds from international development agencies.
Bridge International Academies has defined an innovative approach to delivering high quality education to poor children in Africa through a franchise model of private school ownership. With the help of a $150,000 Deutsche Bank loan, Bridge International is starting in Kenya by building a management model, its first three schools, and a teacher training component. This for-profit enterprise is premised on reaching children whose families earn less than $3 per day, a huge untapped market in Kenya and throughout Africa.
Deutsche Bank’s Global Commercial Microfinance Consortium was a collaborative effort bringing together 14 institutional investors, 13 philanthropic foundations and individuals, 2 social investment funds, and the development agencies of the U.S., French, and British governments in the largest microfinance fund of its kind. The Consortium provides $80.6 million in financing to 38 microfinance institutions in over 20 developing countries, enabling the provision of financial services to more than one million micro-entrepreneurs and small business owners. It is the first commercial fund to provide financing in the locally demanded currency. NIF’s $1 million equity investment in this structured fund contributes part of the $17.25 million credit enhancement tranche necessary to leverage $63.35 million in senior debt.
Family Independence Initiative (FII) is a national center for anti-poverty innovation offering results-based, resident solutions to reducing poverty. FII’s program limits counseling from social workers, instead encouraging families to determine their own paths. This “Self-determination Approach” galvanizes families to act upon their own goals by working with their community. The organization tracks more than 250 metrics including; income, debts, health, education and civic engagement for each family and offers rewards (in the form of capital) based on positive improvements. DBAF’s $100,000 Program Related Investment is seed funding to start FII’s loan program. The FII loan program will target unbanked families that do not have access to micro-lenders or banks all over the United States.
ROC USA, is a non-profit social enterprise dedicated to transforming the manufactured home communities (MHCs) market through resident ownership. MHCs, known colloquially as “trailer parks” or “mobile home parks,” are a component of virtually every rural and suburban market and provide the most affordable, unsubsidized homeownership option in many localities. Residents living in MHCs typically own their mobile homes but not the land under them. This lack of land tenure makes residents vulnerable because they cannot qualify for conventional fixed rate home loans. ROC USA seeks to provide homeowners with the opportunity to purchase their community as a cooperative. The organization provides two crucial supports to help communities of renters become a Resident Owned Community: timely acquisition financing and access to technical assistance through a network of Certified Technical Assistance Providers.