By The Epoch Times | Created at 2026-08-12 18:01:43 | Updated at 2026-08-12 18:51:21
1 hour ago
Bank of America has pledged to deploy $250 billion to support U.S. infrastructure, the latest big Wall Street bank to direct vast sums of private capital toward those projects.
The bank on Aug. 11 announced its Critical Infrastructure Finance Initiative, saying it will provide lending, investments, capital markets services, and banking and advisory offerings to support a “new wave of infrastructure investment.”
The financing will focus on three broad areas: digital infrastructure, including data centers and computing; energy and power infrastructure, including renewable energy generation and energy storage; and core infrastructure, such as critical minerals and mining.
“Meeting America’s growing infrastructure needs requires mobilizing capital at scale across increasingly interconnected sectors,” Karen Fang, Bank of America’s global head of infrastructure and sustainable finance, said in a statement.
“Delivering these projects requires integrated financing solutions spanning corporate and project-level capital in both public and private markets.”
Announced on the heels of celebrations marking the 250th anniversary of the founding of the United States, the $250 billion target will cover 18 months from Jan. 1, 2026, through July 4, 2027.
The bank said that projects supported under the initiative could create tens of thousands of jobs.
Wall Street Banks Step Up
Bank of America joins several of its Wall Street peers that have announced large-scale initiatives directing trillions of dollars toward projects they say are critical to U.S. economic growth, national security, and long-term competitiveness.
On Monday, Morgan Stanley announced its own infrastructure initiative, saying it plans to mobilize $1.5 trillion over the next decade.
The bank said the initiative will increase the capital, resources, and personnel it dedicates to a range of strategic sectors, including rare-earth minerals, pharmaceutical precursors, and robotics. It will also aid companies developing defense, aerospace, and energy technologies such as drones, battery storage, and power-grid resilience.
Morgan Stanley similarly framed its initiative around the United States’ 250th anniversary.
Last year, JPMorgan Chase launched a $1.5 trillion plan to facilitate, finance, and invest in industries it considers critical to U.S. national security and economic resilience, including defense, energy, and advanced manufacturing.
JPMorgan also launched a separate $750 billion initiative aimed at expanding home ownership and housing supply in the United States.
The bank said on Aug. 3 that it plans to help 500,000 customers purchase homes, including 200,000 first-time buyers, by increasing its mortgage lending by more than 40 percent.
To support that expansion, JPMorgan said, it will hire 850 additional home-lending advisers and develop new financing products for modular and manufactured homes.
