JP Morgan Creates $100B Funding Arm To Help UN
JPMorgan has created a $100 billion funding arm — the JPMorgan Development Finance Institution (DFI) — to expand investments in emerging markets and help the United Nations (U.N.) meets its Sustainable Development Goals, JPMorgan announced on Tuesday (Jan. 21).
JPMorgan consulted with other development institutions to develop defining principles to ascertain the prospects most likely to produce both financial and developmental gains.
“By defining eligible transactions and anticipating their impact, we can help attract much-needed private investment to developing countries,” said Daniel Pinto, co-president of JPMorgan Chase and CEO of the Corporate & Investment Bank. “Our aim is to increase engagement with clients and investors interested in financing critical projects and transactions in emerging markets.”
The DFI will be headed by Faheen Allibhoy, a country manager responsible for JPMorgan’s West African division. She brings nearly two decades of experience at the International Finance Corporation.
Photo courtesy of Sudipto Sarkar.
Source: PYMNTS (link opens in a new window)
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