The Deutsche Bank Americas Foundation 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,” says 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,” says 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.”