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August 26, 2020

Deutsche Bank to plant 40,000 fruit-bearing trees to support rural livelihood in Maharashtra, India.

The fruit-bearing trees will support migrant laborers who have moved back to their villages due to the COVID-19 pandemic.

Deutsche Bank, Green Tree

Photo: Green Tree. Image Credit: Stanley Zimny.

Deutsche Bank, Fruit Tree

Photo: Red fruit on a tree. Image Credit: Martin LaBar.

Mumbai, India — Deutsche Bank and Swades Foundation have announced a partnership to plant 40,000 fruit-bearing trees in the Raigad district of Maharashtra, impacting the lives of over 4,000 people living there.

The initiative marks 40 years since Deutsche Bank opened its first branch in the country in Mumbai and four years of a successful partnership with the Swades Foundation to transform the lives of tribal and other indigent families in Raigad district. The trees, which will begin bearing fruit in 3-4 years, are expected to generate an INR 6 crore annual income for the beneficiaries.

“Supporting small-scale agriculture has a significant impact on reducing rural poverty. It offers the most direct route for people in rural areas to benefit from land and labor - their principal assets,” said Kaushik Shaparia, Chief Country Officer, Deutsche Bank India. “We’re confident that our partnership with Swades Foundation will meaningfully transform the lives of people in Raigad district.”

“Deutsche Bank’s relentless efforts towards rural upliftment in India are noteworthy. We are happy to be part of the shared vision to transform and empower India at a grassroots level. Deutsche Bank has been one of our biggest supporters in rural transformation in the last four years. We look forward to celebrating many more exciting milestones together,” said Ronnie Screwvala, Founder, Swades Foundation.

Deutsche Bank’s partnership with Swades Foundation, now in its fourth year, has impacted the lives of 43,500 people in the Raigad district of Maharashtra so far and has involved the bank’s employees volunteering 2,500 hours since April 2018. Deutsche Bank has worked with Swades Foundation to touch the lives of over 10,000 rural families, providing sustainable access to clean water in homes and promoting agri-based livelihoods. Greater access to potable water alone has improved the standard of living of over 1,000 families in the district. The more judicious use of the resource has brought over 1,200 acres of additional farmland under irrigation, allowing for higher crop rotation.

Following the outbreak of the Covid-19 pandemic, Deutsche Bank and Swades Foundation have together distributed over 11,000 grocery and daily essentials kits in rural homes in Raigad since April.

Deutsche Bank has been operating in India since 1980 with a strong presence in the businesses of corporate banking, investment banking, retail banking, private wealth management, and global business services. With close to 13,000 staff and operations across various locations in India, it is one of the leading foreign financial services providers in the country.

Source: Deutsche Bank

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Edited & Posted by the Editor | 2:16 AM | Link to this Post

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