Deutsche Bank Commits $2 Million to New Orleans Relief and Recovery Efforts.NEW YORK -- Deutsche Bank Securities Inc. today announced that it has fully obligated ob·li·gate tr.v. ob·li·gat·ed, ob·li·gat·ing, ob·li·gates 1. To bind, compel, or constrain by a social, legal, or moral tie. See Synonyms at force. 2. To cause to be grateful or indebted; oblige. its $2 million commitment to relief and recovery efforts for the city of New Orleans. As part of its initiative, Deutsche Bank extended over $500,000 in awards to thirteen community leaders through its New Orleans Neighborhood Development Initiative. This program was created to strengthen neighborhood-based nonprofits in their efforts to build affordable housing and restore vitality to severely damaged communities in New Orleans. Recipients include: A Shared Initiative, Inc.; Jericho Road Episcopal; Broadmoor Development Corporation; NHS NHS abbr. National Health Service NHS (in Britain) National Health Service of New Orleans; New Orleans Neighborhood Development Collaborative; Lower 9th Ward Neighborhood Empowerment Network Assn; Preservation Resource Center The Preservation Resource Center is a non-profit organization which promotes the historic preservation of buildings and architecture in New Orleans. Mission New Orleans is a city famous for its architecture. of New Orleans; Puentes New Orleans; Neighborhood Development Foundation; COFFEE, Inc.; Mary Queen of Viet Nam; Louisiana Association of Nonprofits; Providence Housing. Deutsche Bank has also previously extended committed support for a number of emergency relief and rebuilding efforts. Initially the bank provided $500,000 in combined support to the William J. Clinton Foundation and the United States Fund for UNICEF UNICEF (y  `nĭsĕf'), the United Nations Children's Fund, an affiliated agency of the United Nations. to help those most
vulnerable to the flooding and devastation. Another major commitment of
$200,000 was made to Living Cities, a partnership of financial
institutions, private foundations and federal government agencies that
work to improve America's urban neighborhoods. In addition,
Deutsche Bank issued a number of grants designed to preserve New Orleans
unique cultural heritage and seed the economic recovery of many affected
small business.
"New Orleans has both unique challenges in recovering from the devastating dev·as·tate tr.v. dev·as·tat·ed, dev·as·tat·ing, dev·as·tates 1. To lay waste; destroy. 2. To overwhelm; confound; stun: was devastated by the rude remark. impacts of hurricanes Katrina and Rita," said Gary Hattem, President, Deutsche Bank Americas Foundation. "We are hopeful that the bank's support can facilitate on-the-ground efforts to bring the community closer as they begin the recovery process." Deutsche Bank Deutsche Bank (NYSE NYSE See: New York Stock Exchange : DB) 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 75,140 employees in 75 countries, Deutsche Bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people. Deutsche Bank Securities Inc., member NYSE, NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). and SIPC (Simply Interactive PC) An earlier umbrella term from Microsoft and Intel for a PC that works like a home appliance. For example, it has a sealed case, uses external connectors for expansion and boots in just a couple of seconds. , is the investment banking and securities arm of Deutsche Bank AG in the United States. www.db.com |
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