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JPMorgan Chase has announced a series of new initiatives Tuesday to support Minority Depository Institutions (MDIs) and diverse-led Community Development Financial Institutions (CDFIs) as part of a $30 billion commitment to advancing racial equity over the next five years, especially for Black and Latinx Communities.
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NEW YORK, Feb. 23, 2021 /PRNewswire/ JPMorgan Chase today announced initiatives to further support Minority Depository Institutions (MDIs) and diverse-led Community Development Financial Institutions (CDFIs), as part of the firm s recently announced $30 billion commitment to advancing racial equity.
MDIs and CDFIs provide vital financial services in communities that are often underserved. In order to provide this necessary funding to underrepresented communities, many MDIs and CDFIs need additional capital themselves.
These new initiatives are focused on strengthening minority-owned and diverse-led financial institutions by providing additional access to capital, connections to institutional investors, specialty support for Black-led commercial projects and mentorship and training opportunities.
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Accelerate Maryland Partners LLC (AM Partners), led by Transurban and Macquarie Capital, has been selected by the Maryland Department of Transportation (MDOT), MDOT State Highway Administration (MDOT SHA) and the Maryland Transportation Authority (MDTA) as the developer to perform Predevelopment Work and deliver the American Legion Bridge I-270 to I-70 Relief Plan, which will expand transit options, ensure trip reliability and reduce some of the worst congestion in the nation. The selection follows a year-long competitive solicitation process that gained interest among some of the largest global infrastructure developers and operators. The announcement is an important step toward designing new managed lanes aligned to the concurrent Environmental Impact Statement process, as well as the short- and long-term objectives of Maryland and its communities.