Bank of America launches US$250 billion initiative for US tech, energy infrastructure
It says this will bolster the country’s economic growth and help create tens of thousands of jobs
On August 12, Bank of America announced a US$250 billion initiative to support US digital and infrastructure projects over the next year and a half, with the aim of boosting economic growth and creating tens of thousands of jobs. The "Critical Infrastructure Finance Initiative" coincides with the nation's 250th anniversary and covers primary market lending, investments, capital markets services, and various banking and advisory offerings.
The bank's activities will focus on three areas: digital infrastructure, including data centers and computing; energy and power infrastructure, such as renewable power generation and energy storage; and core infrastructure, like transportation and natural gas. Karen Fang, co-head of global capital solutions at Bank of America, emphasized the need to mobilize capital at scale across interconnected sectors to meet America's growing infrastructure needs.
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