Twitter Commits $100 Million to Combat Racial Injustice, Poverty

Twitter Inc. is investing $100 million in a network of community development financial institutions to “combat racial injustice and persistent poverty” by lending to communities of color across the U.S.

The investment will be used to provide long-term, below-market-rate loans provided by the Opportunity Finance Network, the national network of CDFIs, to Black, Latinx, Indigenous, and rural borrowers, Twitter said in a statement Thursday.

There are more than 1,100 CDFIs in the country managing more than $222 billion. In 2018, about 85% of the customers of CDFIs were low-income, 58% were people of color, 48% were women, and 26% from ...