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Deutsche Bank to work in association with CPC.

Global Banking News-1 October 2009-Deutsche Bank to work in association with CPC(C)2009 ENPublishing -

Global Banking News - 01 October 2009(c)2005 - Electronic News Publishing -

Germany-based Deutsche Bank (NYSE: DB) has announced that it would work with the non-profit Community Preservation Corporation (CPC).

The bank said that it and CPC would work together to create a revolving loan fund that is to support The New York Building Retrofit Programme. The programme is aimed at financing residential property energy efficiency retrofits in multifamily buildings throughout New York's neighbourhoods.

The programme has a total fund target of USD150m to USD200m for the revolving loan fund, and the bank has committed USD15m to the fund.

Seth Waugh, CEO, Deutsche Bank Americas, said, 'Deutsche Bank's global commitment to carbon reduction includes helping our cities develop innovative models to finance building energy efficiency upgrades. By arranging private capital for CPC's comprehensive building retrofit initiative, New York City achieves a commercially sustainable system to lower fuel costs and reduce carbon emissions while bringing jobs and economic vitality to our neighbourhoods,'

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Publication:Global Banking News (GBN)
Date:Oct 1, 2009
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