The Opportunity Finance Network (OFN) has been awarded a significant $2.29 billion grant from the Environmental Protection Agency’s (EPA) Clean Community Investment Accelerator (CCIA) program. This grant, the largest awarded under the CCIA program, represents a crucial step in transforming clean energy finance and expanding access to capital in underserved communities across the United States. The CCIA program, part of the $27 billion Greenhouse Gas Reduction Fund (GGRF), aims to support community lenders in low-income and underinvested areas, empowering them to build a more sustainable and equitable future.
OFN, a leading network of community development financial institutions (CDFIs), will utilize this funding to provide capital, technical assistance, and market-building support to mission-driven lenders nationwide. With a long history of investing in low-income communities, OFN is strategically positioned to deploy this capital where it is most needed, driving positive change in areas often overlooked by traditional financial institutions. The goal is to reduce greenhouse gas emissions, lower energy costs, create clean energy jobs, attract private investment, and strengthen local economies.
This investment signifies a crucial step in tackling the climate crisis while addressing economic inequality. The Biden-Harris Administration’s commitment to distributing these funds underscores the importance of equitable access to clean energy resources. By empowering community lenders, the GGRF is creating pathways for local communities to lead the clean energy transition, fostering economic growth, and building a more resilient future for all.
OFN, a network of over 420 CDFIs, has a proven track record of success, having originated over $100 billion in financing, creating or maintaining over 3 million jobs, and supporting the development of nearly 2.4 million housing units. The organization’s commitment to community development and financial inclusion makes it an ideal partner in driving the clean energy revolution in underserved communities.
