Bank of America pledges $250 billion for US infrastructure financing

Bank of America has pledged $250 billion over the next three years to support U.S. digital and infrastructure projects, aiming to boost economic growth and create tens of thousands of jobs. The bank's Critical Infrastructure Finance Initiative, launched in conjunction with the nation's 250th anniversary, will provide various financial offerings such as lending, investments, and advisory services.

This initiative aligns with the growing demand for AI data centers, critical minerals, and energy infrastructure upgrades. Morgan Stanley recently announced plans to facilitate $1.5 trillion in financing for technology and infrastructure projects over the next decade. Bank of America's financing will focus on three areas: digital infrastructure, including data centers and computing; energy and power infrastructure, encompassing renewable generation and energy storage; and core infrastructure, such as transportation and natural gas.

The bank's global head of infrastructure and sustainable finance, Karen Fang, emphasized the need to mobilize capital at scale across interconnected sectors to meet America's infrastructure needs. The $250 billion target will be measured from January 1, 2026, to July 4, 2027. Fang also mentioned that infrastructure projects typically have loan terms of five to seven years, with refinancing to longer-term debt lasting 10, 15, or 20 years once completed.

She highlighted that infrastructure investment would drive economic growth and create long-term jobs.