Deutsche Bank Partners with the Global Alliance for Clean Cookstoves to Mobilize USD 100 Million in New Investments
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Published: Nov 21, 2014 8:20 a.m. ET
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NEW YORK, Nov 21, 2014 (BUSINESS WIRE) -- Deutsche Bank today announced, in partnership with Bank of America, the Global Alliance for Clean Cookstoves, development finance institutions and private investors, a continued commitment to investment in the clean cooking sector through creating a USD 100 million fund to support social enterprises that advance and deploy clean cookstove solutions. To help finance early-stage clean cooking ventures with affordable capital, the Bank’s Global Social Finance Group, together with the Alliance, established a USD 4 million Clean Cooking Working Capital Fund.
The Global Alliance for Clean Cookstoves was formed to address the use of traditional cookstoves and open fires, which typically employ coal, wood or other solid biomass for fuel. Relied upon by more than three billion of the global population, these inefficient cookstoves produce toxic fumes and pollutants that are responsible for some 4 million premature deaths each year in developing countries, according to the World Health Organization.
http://www.marketwatch.com/story/deutsche-bank-partners-with-the-global-alliance-for-clean-cookstoves-to-mobilize-usd-100-million-in-new-investments-2014-11-21
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