WASHINGTON, Oct 4 (Reuters) – The U.S. Treasury will announce on Tuesday that a coalition of private firms and foundations will deposit $1 billion into minority-owned and community development financial institutions to boost their lending firepower in underserved communities.
A Treasury official said the commitment by the Economic Opportunity Coalition will be announced by Vice President Kamala Harris at the Treasury’s annual Freedmen’s Bank Forum focused on the Biden administration’s efforts to boost economic opportunity in communities of color.
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