NCIF made a Commitment to Action with the goal of scaling the community development banking sector as part of the Clinton Global Initiative America (CGI America).
NCIF was invited to participate in the 2013 Community Investing Working Group, a combined effort to revitalize our country's economy. Our Commitment to Action is to invest $50 million in community development banks and low-income communities over the next three years. Part of this money will be invested directly into banks, so they can serve more people. NCIF will also partner with banks in funding catalytic development projects through the New Markets Tax Credit Program. Finally, we aspire to build the community development banking industry by encouraging impact measurement, innovation, and collaboration. We estimate that this commitment will increase access to financial services and will result in over 700 new jobs.
About CGI America
Established in June 2011 by President Bill Clinton, the Clinton Global Initiative America (CGI America), an initiative of the Clinton Foundation, addresses economic recovery in the United States. CGI America brings together leaders in business, government, and civil society to generate and implement commitments to create jobs, stimulate economic growth, foster innovation, and support workforce development in the United States. Since its first meeting, CGI America participants have made more than 200 commitments valued at $13.6 billion when fully funded and implemented. To learn more, visit cgiamerica.org.