Green America Urges Support for Treasury Department’s CDFI Fund
April 5, 2011
WASHINGTON, DC -- Green America, a national marketplace solutions organization founded in 1982, with over 120,000 individual and 4,000 business members nationwide urges Congress to support appropriations for the Treasury Department’s CDFI Fund for FY2011 and 2012 that meet, or exceed, the $247 million allocated in 2010.
The CDFI Fund is essential to helping community development financial institutions (CDFIs) thrive, grow, and better serve communities nationwide. CDFIs play a vital role in our economy, serving low-wealth and disadvantaged communities in a responsible manner. They are drivers of small business development, which in turn create thousands upon thousands of much needed jobs across the nation. In particular, with the economic downturn CDFIs are playing a crucial role in helping hard hit communities rebuild wealth. “Now more than ever, CDFIs are needed to help urban and rural communities get back on their feet in order to ensure the long-term economic health of our nation,” said Fran Teplitz, Green America’s director for social investing.
While CDFIs obtain the vast majority of their capital from private sources, government funds play an important role in expanding the reach of CDFIs, which can leverage government funds to attract additional private dollars. With so many communities struggling economically, now is not the time to cut appropriations for the CDFI Fund. We need a robust and fully funded CDFI Fund to ensure that our most disadvantaged communities are able to grow and provide jobs to those who most need them.
ABOUT GREEN AMERICA:
Green America is the nation’s leading green economy organization. Founded in 1982, Green America (formerly Co-op America) provides the economic strategies, organizing power and practical tools for businesses, investors, and consumers to solve today's social, environmental, and economic problems.
MEDIA CONTACT: Todd Larsen: 202-872-5310