Remarks by Secretary of the Treasury Janet L. Yellen on the 30th Anniversary of the Community Development Financial Institution Fund

US Treasury
Thursday, November 21, 2024

"Good afternoon. It's an honor to welcome President Clinton to Treasury today to mark the recent 30th anniversary of the establishment of the Community Development Financial Institutions Fund...

...The CDFI Fund has been a key part of this story. Since its establishment and across both Democratic and Republican administrations, it has provided more than $8 billion to CDFIs and mission-driven lenders and $81 billion in tax credits to community development entities. In 2023, it awarded more assistance than in any other year in its history. And one analysis finds that every dollar the CDFI Fund invests catalyzes at least eight more dollars in private sector investment."