A Network of the National Association of State Treasurers
Policy Update:

Treasury’s CDFI Fund Opens Funding Round for Rapid Response Program

Open for business sign at a small shop.
U.S. Department of Treasury CDFI Fund, ,

The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) opened the fiscal year (FY) 2021 funding round for the CDFI Rapid Response Program (CDFI RRP) today. The program will provide $1.25 billion to Community Development Financial Institutions (CDFIs) to help their communities respond to the economic hardships created by the COVID-19 pandemic – offering a historic investment in institutions that reach communities that have traditionally been underserved by the financial sector. The CDFI RRP provides an opportunity to further the Administration’s Build Back Better agenda by promoting economic recovery from the impacts of the coronavirus pandemic and advancing racial justice. 

Treasurers may be interested in sharing and amplifying the announcement via their respective state communications channels.