• Contact
  • Privacy Policy
Blacksonrise.com
DONATE
  • Home
    • Caribbean
    • African American
    • African
    • Australian
    • Papua New Guinea
  • Ecourses
  • Herbs
  • Consultation
  • Login
    • LogOut
No Result
View All Result
  • Home
    • Caribbean
    • African American
    • African
    • Australian
    • Papua New Guinea
  • Ecourses
  • Herbs
  • Consultation
  • Login
    • LogOut
No Result
View All Result
Blacksonrise.com
No Result
View All Result

The Siemens Foundation And Nothern Trust Committ $10 million to CDFIs

blacksonrise by blacksonrise
January 20, 2021
in African American Business
0
Color Of Change Launches New Directory For Black-Owned Businesses
0
SHARES
253
VIEWS
Share on FacebookShare on Twitter

The Siemens Foundation and Northern Trust announced a commitment of $10 million to two Community Development Financial Institutions (CDFIs) to support racial and social equity.

CDFIs are private financial institutions that support low-income and wealth communities across the country, disadvantaged people and communities join the economic mainstream. Siemens and Northern Trust have selected the Enterprise Community Loan Fund (ECLF) and Primary Care Development Corporation (PCDC) on Jan. 14.

The groups will provide support and capital in the real estate and health care industries.

“The Siemens Foundation’s mission and grantmaking are focused on economic, social and racial justice in the United States. Today, we bring our endowment into further alignment with that mission,” Barbara Humpton, chair of the Siemens Foundation Board of Directors and CEO of Siemens USA said in a statement. “CDFIs play a vital role in providing funds to communities too long ignored by capital markets, including the health care and real estate sectors within those communities.”

Through the ELCF, Enterprise Community Partners is developing and directing a national strategy to help Black, Indigenous and People of Color find success in the real estate industry. According to the Commercial Real Estate Development Association, Black men and women have been held back in the industry.

One percent of senior executive positions and mid-level managerial positions within commercial real estate belong to Black men. Less than 1% are held by Black women. Additionally, the association revealed a disproportionate percentage of Black households living in subsidized housing. Black households represent 46% of HUD-assisted housing. White households make up less than 15%.

The funds that will be allocated to the ELCF will work to create balance in the real estate industry. The development of affordable housing will be a key focus for the funds.

The PCDC will focus on identifying those most in need of medical care to provide innovative solutions for improving primary care access, quality and impact.

The funds from Siemens and Northern Trust will provide investment capital, technical assistance, policy advocacy and data analytics to boost primary healthcare and community based critical safety providers, including behavioral health clinics and substance abuse facilities to create healthier communities.

“Given the disproportionate impact of COVID-19 on the health and economic lives of BIPOC communities, affordable housing, business stabilization, and primary health care support is more important than ever,” said David Etzwiler, CEO of Siemens Foundation. “We’re honored to partner with ECLF and PCDC as they promote financial stability and health equity across the country.”


Credit: Source link

Previous Post

D’Abadie woman mauled to death by dog

Next Post

NNED’s position on the Draft Framework for coordinating and harmonizing the operations of NGOs/CSOs/FBOS in the education sector in Ghana

Next Post
NNED’s position on the Draft Framework for coordinating and harmonizing the operations of NGOs/CSOs/FBOS in the education sector in Ghana

NNED’s position on the Draft Framework for coordinating and harmonizing the operations of NGOs/CSOs/FBOS in the education sector in Ghana

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

ADVERTISEMENT

HOT Updates

No Content Available

BlackSonRise.com is an online news portal which aims to provide Caribbean News, African News, Business and much more stuff like that. Feel free to get in touch with us!

Follow us on social media:

Recent News

  • Tax experts divided on Mboweni’s expected tax announcements – SABC News
  • LaRose Spotlights African-American Owned Businesses for the Month of February – African American News Today
  • Consultations with First Nations lacking on mines proposed in northwestern Ontario 

Subscribe NOW

Loading
  • Contact
  • Privacy Policy

© 2019 Blacksonrise.com is an online news, e-learning, and business website that caters to the global black community.

No Result
View All Result
  • Home
    • Caribbean
    • African American
    • African
    • Australian
    • Papua New Guinea
  • Ecourses
  • Herbs
  • Consultation
  • Login
    • LogOut

© 2019 Blacksonrise.com is an online news, e-learning, and business website that caters to the global black community.