Bank of America launches US$250 billion initiative for US tech, energy infrastructure

[NEW YORK] Bank of America said on Wednesday (Aug 12) it plans to deploy US$250 billion through July next year to support US digital and infrastructure projects, an initiative it says will bolster the country’s economic growth and help create tens of thousands of jobs.

The Wall Street bank’s “Critical Infrastructure Finance Initiative,” launched on the heels of the nation’s 250th anniversary celebrations, will include primary market lending, investments, capital markets services, and banking and advisory offerings.

The announcement underscores how major US financial institutions are seeking to capitalise on a domestic boom in AI data centres, mining of critical minerals and modernisation of the energy infrastructure.

It comes days after Morgan Stanley said it will facilitate roughly US$1.5 trillion over the next decade to finance technology and infrastructure projects.

Bank of America’s financial activities will span three categories: digital infrastructure such as data centres and computing, energy and power infrastructure that includes renewable power generation and energy storage, and core infrastructure such as transportation and natural gas.

“Meeting America’s growing infrastructure needs requires mobilising capital at scale across increasingly interconnected sectors,” said Karen Fang, co-head of global capital solutions at Bank of America.

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“Delivering these projects require integrated financing solutions spanning corporate and project-level capital in both public and private markets.”

The amount will be based on eligible activity during an 18-month period from January 1, 2026, marking the start of America’s 250th year, through July 4, 2027, the bank said. REUTERS