The article discusses how leaders of community development financial institutions (CDFIs) are optimistic about the $27 billion Greenhouse Gas Reduction Fund (GGRF) impacting clean energy financing. This federal investment, part of the Inflation Reduction Act of 2022, could significantly enhance the CDFI landscape. However, challenges remain, notably the existence of CDFI "deserts" in nearly a third of US communities, which complicates accessibility to financing for underserved areas. CDFIs need to address these geographic inequities to effectively leverage the new funding for clean energy initiatives.
In these turbulent times, many leaders of CDFIs, managing $468 billion, hope the Greenhouse Gas Reduction Fund will transform the clean energy financing ecosystem.
CDFIs are facing a challenge because nearly a third of US communities are CDFI "deserts" with low lending activity, threatening clean energy financing distribution.
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