Economy

Deutsche Bank Sponsors Social Development and Cooperation in India

The German company supports the Be! Fund project in order to solve social, economic and environmental problems in India

July 05th, 2016
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Since 2011, Deutsche Bank has been collaborating financially and through employee expertise, with the India’s first non-profit venture fund aiming to promote solutions to local Indian problems.

India’s current social situation is quite bleak, in fact, the growth of poverty is directly proportional to the growth of the economy. According to some estimates, the number of unemployed people will be more than 210 million, mainly people younger than 30 years of age. The state is in serious need of a social development and cooperation plan, in order to provide the basic instruments people need in order to ensure they are enabled to lead a dignified life, like access to water and energy and health services.

Be! Fund has been created in order to, firstly, suggest a solution to these local problems and, secondly, to find opportunities for young people and let them reach their potential. The founders of the original project was the non-profit organization “Going to School in India”. They aimed to help young people from school to make them conscious about how education could be important for their professional life. Now instead, the project is focusing more on supporting young people who are putting into practice their entrepreneurial ideas and assisting them along their way.

Deutsche Bank decided to be involved in this project supporting Be! Fund with its Corporate Community Partnership Program. The Bank does this through employee’s expertise: they will be sent to developing countries, like India, in order to support the work of non-profit organizations. Joris Hensen and Konstanze Hertel represents two examples of what this kind of assistance means: they travelled to India to consult with the Be! Fund team, developing, respectively, a software to evaluate the social and financial implications of individual business ideas and an online funding campaign to expand the Be! Books success in other schools.

References:

Cultural Diplomacy News
Valentina De Gregorio, CD News