BofA pledges $60M in stimulus to emerging markets

Charlotte-based Bank of America Corp. (NYSE: BAC) announced Thursday its plans to allot $60 million toward an effort to funnel private capital to emerging and developing markets.

The allotment is part of a new Blended Finance Catalyst Pool, which allows BofA to invest in energy access, affordable housing, water and sanitation and climate resiliency. BofA says emerging markets will take first priority, followed by developing markets.

Developing markets typically have underdeveloped industry with…

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