NY Green Bank is pleased to announce the launch of our $250 million Community Development Fund (CDF). The CDF is expected to expand and accelerate the lending capacity of smaller
NY Green Bank is pleased to announce the launch of our $250 million Community Development Fund (CDF). The CDF is expected to expand and accelerate the lending capacity of smaller community-based and mission-driven investors by channeling financing into sustainable infrastructure projects that benefit underserved New Yorkers in DACs. The CDF is a wholesale lending pathway directed at Community Development Financial Institutions (CDFIs) and mission-driven lenders to expand their focus on providing capital for clean energy and building electrification projects to the front-line communities they are already serving and at smaller transaction sizes that NYGB is not as well positioned to support directly. The fund gives applicants significant flexibility in the form of a 12-year loan to work with community owners and climate advocates to identify funding opportunities that meet greenhouse gas reduction goals. This new offering will allow for broader market participation by CDFIs and mission-driven lenders and enable them to deploy capital that delivers a sizable impact in New York’s efforts to achieve climate equity. Development of the CDF is the result of extensive stakeholder engagement. The sessions served to assess NY Green Bank’s product offerings to ensure they are meeting the needs of potential applicants and delivering the benefits of clean energy investments to disadvantaged communities. We launched CDF in response to the stakeholder feedback we received. NYGB hopes that by working with us to meet the challenge of delivering clean energy capital to front line communities, CDFIs and other mission driven lenders will help pave the way towards larger scalable transactions that NYGB and private lenders and investors can directly support. Join us on May 11, 2023 at 10:00 a.m. to hear more about the launch of this new program!
(Thursday) 3:57 pm - 3:57 pm
New York State Energy Research & Development Authority (NYSERDA)email@example.com 17 Columbia Circle Albany, NY 12203-6399