VP Announces New Private and Public Sector Efforts to Align Tens of Billions in Investments in Underserved Communities

The federal government and a coalition of 24 companies and foundations are coming together to align historic investments in underserved communities.

According to The White House, over the course of her career, the Vice President has remained focused on ensuring that minority, rural, and low-income communities have the capital and resources they need to thrive and support a vibrant ecosystem of small businesses. Her commitment to these communities is reflected in the Vice President’s longstanding support for community development financial institutions (CDFIs), minority depository institutions (MDIs), and other local financial institutions. As Senator, the Vice President partnered with key Congressional stakeholders to secure a transformative $12 billion investment for CDFIs and MDIs in December 2020. Since that time, she has worked with Secretary Yellen and the Department of the Treasury to ensure these programs are as successful as possible. Additionally, the Vice President has traveled across the country to meet with business owners and entrepreneurs in underserved communities to discuss challenges and opportunities they face—because she believes that if we harness the full potential and talent of all our innovators, we can build a better and more prosperous future.

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