Coutts, for the first time, has unveiled its new Foundation, which will fund charitable work on an international basis, focusing on those territories where Coutts has a presence.

The Foundation aims to support approaches to tackle the causes and consequences of poverty, e.g.: disadvantaged communities, whether it is a community of certain people or of a certain area, water and sanitation in South and South East Asia and helping social entrepreneurs with funding to tackle worldwide issues.

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The volunteering four member team, including the managing director of Coutts Institute Maya Prabhu, working with the Trustees, will take a more proactive approach to helping charitable causes and intend to help a few projects significantly. Coutts declined to comment on what the budget for the international fund will be, but there will be sufficient funding to maintain and increase the amounts given in recent years by the former UK-focused initiative.

Prabhu said that once the Foundation has gained momentum, clients would be able to donate towards projects.

Initiatives chosen to receive funding so far are the Ashden Trust, which focuses on energy efficiency to relieve poverty, Lien Aid, which helps provide clean water to impoverished areas in China, and the Ranthambore Foundation, a charity established to improve hygiene and toilet facilities in schools in India.

Prabhu said: "Philanthropy is in Coutts DNA. We are excited to launch the new Coutts Foundation to coincide with the 200th anniversary of the birth of Angela Burdett-Coutts. The Foundation will build on her significant philanthropic legacy, with the aim of making a positive and lasting difference to tackling some of the causes and consequences of poverty."

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