Netflix Moves $100 Million to Banks Serving Black Communities eurweb.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from eurweb.com Daily Mail and Mail on Sunday newspapers.
/PRNewswire/ The Black Economic Development Fund (BEDF), managed by the Local Initiatives Support Corporation (LISC), has reached its $250 million goal for.
Previously,
BLACK ENTERPRISE reported on Netflix’s multi-million dollar investment in initiatives geared towards racial equity and wealth within the Black community, which was sparked by a conversation on race relations that were brought about by the protests against racial injustice. Now, the streaming giant partnered with Enterprise Community Partners to help end the racial housing gap for BIPOC families.
Enterprise unveiled its new Equitable Path Forward, a five-year $3.5 billion nationwide initiative in partnership with Netflix to help dismantle the legacy of racism in the housing market and help more marginalized groups become homeowners to create more generational wealth.
“Our vision is nothing short of dismantling the legacy of racism in housing. By investing in these housing providers who are on the ground and engaged with their communities, Equitable Path Forward will lead to a new and needed level of responsiveness, investment, and equity in the communities that get
Streaming behemoth Netflix is giving $25 million to a
national effort to combat systemic racism in housing.
Enterprise Community Partners, the non-profit founded by
developer James Wilson Rouse in the 80s to build and finance affordable homes,
announced Netflix has committed the cash to its Equitable Path Forward program.
The five-year, $3.5 billion nationwide initiative aims to
help dismantle the legacy of racism in housing – from the types of homes that
are built, where they’re built, who builds them, and the wealth that is
generated from them.
The initiative establishes an equitable path forward for Black, Indigenous, and People of Color (BIPOC) and other historically marginalized housing providers by: filling the gaping capital gap from decades of systemic racism; strengthening providers through advisory services and other support; and creating new career pathways to diversify leadership in real estate.