FRANKFURT AM MAIN, 21-Oct-2016 — /EuropaWire/ — Deutsche Bank welcomes the Green Climate Fund’s (GCF) decision to make an initial 78.4 million US dollars investment in Deutsche Asset Management’s fund for renewable energy access in Africa. Deutsche Bank further appreciates GCF’s support to improve the capacity of project developers and financial institutions in Africa that will be engaged in its investment activities.
“As the first commercial bank accredited by the Green Climate Fund, we are very pleased that the GCF Board has decided to become the anchor investor in our proposed Universal Green Energy Access Program (UGEAP) fund for Africa”, said Nicolas Moreau, Head of Deutsche Asset Management and member of the Management Board of Deutsche Bank AG. “This investment will allow Deutsche Asset Management to support up to USD3.5bn of investment from local banks and entrepreneurs over the next 15 years and, ultimately, support the provision of clean electrical energy to individuals and businesses”.
The GCF’s anchor investment of 78.4 million US dollars shall allow Sustainable Investments, the group within Deutsche AM that manages environmental and social assets, to raise a total of 300 million US dollars in capital. This amount will be invested in the first phase in Benin, Kenya, Namibia, Nigeria and Tanzania. The UGEAP has received the support by respective local governments. In phase two, the fund will be rolled out to other Sub-Saharan countries and targets to reach 500 million US dollars.
Further details about the proposal are available on our website:
Release of Green Climate Fund: http://g.cf/2ep0Neh
About Deutsche Bank
Deutsche Bank provides commercial and investment banking, retail banking, transaction banking and asset and wealth management products and services to corporations, governments, institutional investors, small and medium-sized businesses, and private individuals. Deutsche Bank is Germany’s leading bank, with a strong position in Europe and a significant presence in the Americas and Asia Pacific.
This release contains forward-looking statements. Forward-looking statements are statements that are not historical facts; they include statements about our beliefs and expectations and the assumptions underlying them. These statements are based on plans, estimates and projections as they are currently available to the management of Deutsche Bank. Forward-looking statements therefore speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.
By their very nature, forward-looking statements involve risks and uncertainties. A number of important factors could therefore cause actual results to differ materially from those contained in any forward-looking statement. Such factors include the conditions in the financial markets in Germany, in Europe, in the United States and elsewhere from which we derive a substantial portion of our revenues and in which we hold a substantial portion of our assets, the development of asset prices and market volatility, potential defaults of borrowers or trading counterparties, the implementation of our strategic initiatives, the reliability of our risk management policies, procedures and methods, and other risks referenced in our filings with the U.S. Securities and Exchange Commission. Such factors are described in detail in our SEC Form 20-F of 11 March 2016 under the heading “Risk Factors”. Copies of this document are readily available upon request or can be downloaded from www.db.com/ir.
Deutsche Bank AG
Press & Media Relations
+49 69 910 42648
SOURCE: Deutsche Bank AG