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Goldman Sachs is investing $ 10 billion over 10 years to help black women

New York: Goldman Sachs Group Inc said today that it will invest US $ 10 billion in an initiative to support black women over the next 10 years, focusing on areas including healthcare, job creation and education.

The company said the bank’s “One Million Black Women” initiative is part of its commitment to impact the lives of at least one million black women by 2030.

Against the backdrop of protests over the death of African-American George Floyd last year, major corporations have pledged to increase diversity, donate to civil rights groups and change their policies.

Goldman will also allocate an additional $ 100 million USD over the next decade to charitable projects focused on African American women.

The company said, citing research, that narrowing the wage gap for black women could create between 1.2 million and 1.7 million jobs in the United States.

Goldman set up a $ 10 million fund last year to advance racial equality, then said it has invested nearly $ 200 million over the course of the decade for organizations dedicated to serving communities of color.

Rosalind Brewer, chief executive of pharmacy chain Walgreens Boots Alliance, and Lisa Jackson, vice president of environment, policy and social initiatives at Apple Inc, will be on the advisory board for the new venture.

The board will also include Mark Muriel, CEO of the civil rights organization the National Urban League, and former New Orleans Greater New Orleans.

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