Abu dhabi: Bank of America has committed to mobilizing $250 billion to finance crucial infrastructure projects across the United States. This pledge is part of an 18-month initiative aligned with the upcoming 250th anniversary of US independence.
According to Emirates News Agency, the initiative will be carried out through direct lending, investments, banking, and advisory services. It aims to bolster three primary sectors: digital infrastructure, including data centers; energy and electricity; and other vital infrastructure such as transportation and critical minerals.
Jim DeMare, Co-President of Bank of America, emphasized that this initiative is expected to stimulate growth, create jobs, and shape the next chapter of America's history. The initiative is set to run throughout 2026, concluding on July 4, 2027.