JPMorgan Chase is making a $75 million investment in the D.C. region, and it’s all aimed at underserved communities.
On Tuesday, the investment bank announced a five-year commitment in “philanthropic capital and flexible low-cost loans” to the region.
Wards 7 and 8 in D.C. will benefit from about $20 million of that. Baltimore will also benefit from about $20 million. The remainder will benefit Richmond, Virginia, and other communities.
“Business must do its part to help solve challenges facing the customers and communities it serves,” said Peter Scher, JPMorgan’s vice chairman, in a statement Tuesday. “Addressing inequities requires concerted and sustained efforts by public and private sector partners that seek to build wealth for communities of color.”
Click here to read the rest of the article written by Jack Pointer over at WTOP
