Bank of America, the second u.s. bank, announced on Tuesday a budget of a billion dollars to fight racial injustices in the United States after the death of George Floyd, an African-American 46-year-old a week ago.
These funds are intended to reduce socio-economic inequalities highlighted and accentuated by the pandemic in less-favoured areas, underlines the firm, in a press release.
They will be broken down into various programs during the next four years.
The institution, based in Charlotte, North Carolina, intends to support initiatives around health, including the screening of the Covid-19 and vaccination campaigns, train young people of visible minorities, improve the skills of employees are African-American and Hispanic and financing of qualification training courses in order to facilitate the access of these minorities to positions of responsibility.
Bank of America is committed also to supporting local businesses and SMES, as well as to assist these visible minorities on all issues related to housing.
“The economic and social disparities already existing have been accelerated and amplified during the pandemic,” said Brian Moynihan, the CEO, quoted in the press release.
For Mr. Moynihan, ” the events of last week have created a real crisis throughout the country, particularly in the light of the racial injustices that we see in our communities where we work and live. We all need to do more “.
The gesture of Bank of America comes at a time when the big bosses in the u.s. are asked to go beyond condemnations of police violence to reduce economic inequality, a source of popular anger expressed in the protests, sometimes violent, that are scattered throughout the country in the last few days.