Bank of America Commits $250 Billion to U.S. Infrastructure Modernization
Bank of America will deploy $250 billion over 18 months to finance infrastructure projects in digital, energy, and core sectors, supporting job creation and energy security. The initiative, announced Wednesday, aligns with the U.S. semiquincentennial and follows similar patriotic moves by JPMorgan Chase amid political scrutiny of banks.
Bank of America announced Wednesday that it will finance $250 billion in critical infrastructure projects to bolster American competitiveness, job growth, and energy security, according to a press release.
The company will lend, bank, invest in, and advise on projects spanning digital, energy, and core infrastructure. These include data centers and computing materials; conventional and renewable power generation and energy storage; transportation; water systems; and critical minerals and mining.
“The infrastructure that powers our economy, strengthens our energy security and secures our technological leadership will drive growth, create jobs and define America’s next chapter,” said Jim DeMare, co-president of Bank of America, in a prepared statement Wednesday.
The bank expects the initiative to drive job creation in construction, manufacturing, and technology sectors. Data centers, power generation facilities, grid modernization projects, and transportation infrastructure “require a highly skilled workforce to build, operate and maintain,” the bank said.
The effort will be directed by the bank’s global infrastructure and sustainable finance team, led by Karen Fang, who also co-leads the bank’s global capital solutions team.
“Meeting America's growing infrastructure needs requires mobilizing capital at scale across increasingly interconnected sectors,” Fang said in a prepared statement. “Delivering these projects requires integrated financing solutions spanning corporate and project-level capital in both public and private markets. By bringing together capital providers, developers, corporations and investors, we are focused on helping accelerate investment in infrastructure that drives economic growth and creates lasting value for communities.”
The $250 billion figure coincides with the 250th anniversary of U.S. independence. Bank of America will deploy the funds over an 18-month span that began Jan. 1 and will end July 4, 2027.
This is at least the second patriotic initiative put forth on Wall Street this year, following JPMorgan Chase’s American Dream Initiative, through which the bank plans to lend $80 billion to small businesses over the next 10 years and expand one-on-one coaching and technical assistance to 115,000 small-business owners in more than 80 cities.
Banks may be seeking to position themselves favorably with the White House, after President Donald Trump in January 2025 accused BofA specifically of debanking conservatives and conservative causes.
More recently, Trump sued JPMorgan Chase and its CEO, Jamie Dimon, alleging they debanked him following the Jan. 6, 2021 Capitol riot. JPMorgan denied the claims, and the bank’s lawyers have called Trump’s lawsuit “threadbare.”
The Trump Organization sued Capital One in March 2025, alleging the bank closed roughly 300 of its accounts in 2021 because “the political tide at the moment favored doing so.” The bank last month disclosed the Trump accounts were shuttered after “months of analysis and a careful review” by an internal anti-money laundering team.