By SudOuest.fr with AFP
The US government has decided to devote $ 9 million to loans for minorities hard hit by the health crisis. A measure that is in line with the Biden Administration’s desire to reduce inequalities in the United States
The Biden Administration has decided to spend nearly $ 9 billion to increase lending to minority-owned companies, the Treasury said on Tuesday. The Treasury will invest in order to lend to communities that have been “disproportionately affected by the Covid-19 pandemic,” he said in a statement. Low-income consumers living in rural areas will also benefit, he said.
Reduce inequalities
The Biden administration has made reducing inequalities in the United States one of the main pillars of its policy. “We know that the communities most affected by Covid-19 have often been minorities, and the Treasury is implementing the Emergency Aid Act for the sake of fairness,” Secretary Janet Yellen said. “The Treasury is injecting nearly $ 9 billion into community development financial institutions and minority depositories,” she also detailed.
The states with the largest number of institutions benefiting from these investments are Mississippi, Louisiana, North Carolina, California and Texas.
–
