Partnering to help create opportunities
Last year, Bank of America committed $1.25 billion over five years to advance racial equality and economic opportunity. To date,
we’ve directly funded or invested one-third of this amount on top of long-standing efforts to make an impact in our communities
and address society’s greatest challenges.
Here are some of the ways we’re working to make a difference:
• Investing $300 million in 100 minority-owned and minority-led equity funds, including Harlem Capital and Zeal Capital Partners.
This will help diverse entrepreneurs and small business owners create more jobs, financial stability and growth.
• Investing $36 million in 21 Minority Depository Institutions (MDIs) and Community Development Financial Institution (CDFI) banks,
such as Ponce Bank, that support minority-owned businesses. This is in addition to approximately $100 million in deposits to MDIs
and our existing CDFI portfolio of more than $2 billion, which helps build pathways to economic vitality in local markets.
• Providing funding and support through innovative programs and partnerships with community colleges, universities and nonprofits,
including Baruch College, that offer training and credentialing programs connecting more people to high-wage, in-demand careers.
We’re doing this work in collaboration with community partners, business leaders, experts and academics across the public and
private sectors to ensure that our investments are directed where they’re needed most. Together, we can help drive sustainable
progress in New York City.
Caribbean Life, NOVEMBER 19-25, 2021 5
What would you like the power to do?®
President, Bank of America New York City
Learn more at bankofamerica.com/metroNY
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