In honor of America’s 250th Anniversary, the Bank of America announced a new initiative – the Critical Infrastructure Finance Initiative to support U.S. infrastructure development through financing.
Officials said the initiative hopes to strengthen and modernize the country’s infrastructure, support energy security, foster job growth and grow the country’s economic competitiveness. The initiative will allow the digital, energy and power, and core infrastructure development sectors access $250 billion in capital to support the sectors and the transformative infrastructure investment across the country. The funding will be available for 18 months, through July 4, 2027.
“We are proud of our long history supporting the American economy. As America marks its 250th year, this initiative reflects our confidence in the country’s future and the investments that will shape it,” Jim DeMare, Co-President, Bank of America, said. “The infrastructure that powers our economy, strengthens our energy security and secures our technological leadership will drive growth, create jobs and define America’s next chapter.”
BoA said demand for computing power, energy, manufacturing capacity, modern transportation systems and diversified supply chains is adding to the new wave of infrastructure investment across the U.S. BoA said it is helping clients across these sectors through its global capital markets platform, its advisory expertise and its strong balance sheet support.
“Meeting America’s growing infrastructure needs requires mobilizing capital at scale across increasingly interconnected sectors,” Karen Fang, Global Head of Infrastructure & Sustainable Finance and Co-Head of Global Capital Solutions at Bank of America, said. “Delivering these projects requires integrated financing solutions spanning corporate and project-level capital in both public and private markets. By bringing together capital providers, developers, corporations and investors, we are focused on helping accelerate investment in infrastructure that drives economic growth and creates lasting value for communities.”
The effort will be led by Bank of America’s Global Capital Solutions (GCS) and Global Infrastructure & Sustainable Finance (GISFG) teams and is supported across all eight lines of business.