HOPE, Partners, Achieve Major Policy Win in Work to Tackle Persistent Poverty
August 4th, 2016
In July, the U.S. Department of Agriculture announced changes to the Community Facility Direct Loan Program that opens up the program to Community Development Financial Institutions (CDFIs). Through the program, CDFIs will now have access to up to $500 million in very low-cost, long-term capital to finance rural hospitals, schools, and other facilities in persistent poverty areas. The announcement coincided with the development of the Uplift America Fund, which will provide grants to bolster the balance sheets and operating capacity of CDFIs to take on the USDA project. The program’s announcement marks a major win in the HOPE initiated Campaign to Tackle Persistent Poverty which was launched at the 2014 policy conference.