JPMorgan Development Arm Will Get More Funding!

  JPMorgan Development Arm Will Get More Funding! JPMorgan ( JPM (NYSE) $153.57 -1.62(-1.05%) Development Finance Corporation, established last year, A bank executive told Reuters that the JPMorgan Development Finance Corporation, which aims to fund more than $ 100 billion of operations annually, is considering supporting more supply chain deals to help combat Covid-19 in developing countries. Some emerging markets, such as India, struggled with the supply of vaccines and other medical equipment during the epidemic. "We want to do more operations with development at its center," said Faheen Allibhoy, managing director of the institution. Allibhoy is among the areas that the institution will try to focus on; He stated that there will be issues such as vaccine supply chain, gender-oriented credit, water and food security and climate smart agriculture. The JPMorgan ( JPM (NYSE) $153.57 -1.62(-1.05%) Development Finance Corporation, established last year, aims to raise more than $ 100 billion each year from investment banking deals to development activities. In 2020, the institution was involved in 437 development finance transactions worth a total of $ 146 billion, and helped bonds for the governments of Morocco and the Dominican Republic. The funds collected here aim to help companies affected by the pandemic in order to finance the state budget.

JPMorgan ( JPM (NYSE) $153.57 -1.62(-1.05%) Development Finance Corporation, established last year,

Stating that in 2021 the bank is focusing on more deals with which it acts as a financing structuring agent, Allibhoy said in February that it made its first in Africa, with a $ 620 million deal involving Liquid Telecom. The bank announced this month that it plans to fund more than $ 2,5 trillion in 10 years to develop long-term solutions that combat climate change and contribute to sustainable development. This includes agreements to improve the quality of life in developing countries to help achieve the United Nations Sustainable Development Goals (SDGs). In this context; The development finance arm was noted to assist most of the 17 SDGs in 2020. JPMorgan ( JPM (NYSE) $153.57 -1.62(-1.05%) Development Finance Corporation, established last year,  

Source: investing.com

 

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