Bank of America Community Development Banking (CDB) provided a record $5.87 billion in loans, tax credit equity investments, and other real estate development solutions, surpassing last year’s record of $4.88 billion. CDB deployed $3.62 billion in debt commitments and $2.25 billion in investments to help build strong, sustainable communities through affordable housing and economic development across the country. In 2020, CDB-financed developments produced more than 13,800 housing units, of which more than 13,000 were affordable, including:

• 6,000 green housing units.

• 2,400 housing units for seniors.

• 1,600 housing units for veterans, special needs and the formerly homeless.

This included 1,650 affordable housing units developed by Minority and Women-Owned Business Enterprises, using $506 million in debt and equity financed by CDB. Bank of America Global Corporate and Investment Banking also provided $301 million in tax credit investments, for a total of $6.17 billion in affordable housing and economic development financing.