Axios: Goldman puts $10 billion behind fight to equalize “Black Womenomics”

Axios, March 10,2021, Goldman puts $10 billion behind fight to equalize “Black Womenomics”

Goldman Sachs is embarking on a decade-long quest to inject $10 billion into projects that it says will impact one million Black women.

Why it matters: It’s the biggest dedicated investment specifically to initiatives that target Black women by a major financial institution.

Details: The money will be disbursed in equity or grants over the next 10 years.

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Redlining and Neighborhood Health

Before the pandemic devastated minority communities, banks and government officials starved them of capital.

Lower-income and minority neighborhoods that were intentionally cut off from lending and investment decades ago today suffer not only from reduced wealth and greater poverty, but from lower life expectancy and higher prevalence of chronic diseases that are risk factors for poor outcomes from COVID-19, a new study shows.

The new study, from the National Community Reinvestment Coalition (NCRC) with researchers from the University of Wisconsin–Milwaukee Joseph J. Zilber School of Public Health and the University of Richmond’s Digital Scholarship Lab, compared 1930’s maps of government-sanctioned lending discrimination zones with current census and public health data.

Table of Content

  • Executive Summary
  • Introduction
  • Redlining, the HOLC Maps and Segregation
  • Segregation, Public Health and COVID-19
  • Methods
  • Results
  • Discussion
  • Conclusion and Policy Recommendations
  • Citations
  • Appendix

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