Today JPMorgan Chase & Co. is taking a big step in its efforts to drive inclusive growth in communities around the world. The firm is announcing AdvancingCities, a $500 million, five-year investment in solutions that bolster the economies of the world’s cities. We invite you to watch the announcement at 9:00 a.m. ET.
Learning from the firm’s investments in Detroit, Chicago and the Washington, D.C. area, AdvancingCities challenges the public and private sectors to work together on solutions that connect more people to jobs and greater financial security, boost small business growth, and revitalize economically distressed neighborhoods.
When JPMorgan Chase enters communities, it brings the full force of the firm behind it. Through AdvancingCities, we will combine the best of our business and philanthropic capital, as well as our expertise, partnerships and data to maximize our impact. We expect to leverage an additional $1 billion in outside capital, resulting in a total of $1.5 billion targeted toward efforts that boost inclusive growth.
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