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National Bankers Association President and CEO Nicole Elam Esq. issued the following statement regarding the U.S. Environmental Protection Agency (EPA) and Biden-Harris Administration announcement of $20 billion deployed through the Greenhouse Gas Reduction Fund (GGRF) to mobilize clean energy financing through community lenders such as Minority Depository Institutions (MDIs) and Community Development Financial Institutions (CDFIs). The funds will flow to low-income and disadvantaged communities, including communities with environmental justice concerns.

“As we seek to tackle the climate crisis, the deployment of capital through the Greenhouse Gas Reduction Fund will be a transformative boost for Minority Depository Institutions to finance green and clean technology projects. This will benefit low-income and disadvantaged communities whose climate risks continue to increase. Minority banks have a proven track record of leveraging capital and providing financial services to communities of color. This unprecedented opportunity will mitigate climate impacts for future generations.”