The Treasury Department announced that it has guaranteed an additional $200 million through the Community Development Financial Institutions (CDFI) Bond Guarantee program. Building upon its August announcement that $325 million in bonds had been guaranteed to support economic development opportunities across the country, the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) added an additional four bonds totaling $200 million, bringing the total guaranteed to date to $525 million. Under the program, CDFIs will issue federally backed bonds and use the proceeds to provide long-term, fixed-rate capital for projects in low-income communities.
The FY 2014 program participants include institutions with a strong presence in the community development finance industry that share an equal commitment to financing a wide range of job-creating and community-building projects. Four Eligible CDFIs received bond loans from the Community Reinvestment Fund, as Qualified Issuer. They are: Capital Impact Partners; IFF; Low Income Investment Fund; and the Reinvestment Fund.