Multiple people shot along I-75 in southeastern Kentucky, authorities say
Police say active shooter in Kentucky left numerous people shot
Musk says SpaceX to launch first uncrewed Starships to Mars in two years
Pope Francis visit keenly awaited in deeply Catholic East Timor
Pope brings in a ton of humanitarian aid, toys to remote Papua New Guinea as he celebrates periphery
North Korean leader emphasises importance of strengthening naval power
Former director of Los Alamos National Laboratory dead after car crash in New Mexico
Chicago Sky's Angel Reese says on social media that her historic rookie season is over due to injury
Cast of Ron Howard's "Eden" bonded during an arduous filming
NEW YORK (Reuters) - Goldman Sachs and the New York City Mayor's Office on Monday announced a $50 million initiative to support minority-owned affordable housing developers.
The initiative, which is also backed by the Community Preservation Corp, aims to support affordable housing in New York City by facilitating credit for minority-owned housing developers, the bank said.
The pledge could unlock $500 million in private construction lending, the bank said.
There is a shortage of affordable housing in New York, the largest U.S. city with nearly 8.5 million residents and ranking among the nation's costliest rental and real estate markets.
Goldman's commitment is part of an initiative to deploy $10 billion in direct investment capital and $100 million in philanthropic capital over the next 10 years to partner with organizations led by Black women.
(Reporting by Saeed Azhar, Editing by Lananh Nguyen and Ros Russell)
