CINCINNATI — Fifth Third Bank will be among several partners in a $20 million investment program in Avondale.
Avondale is one of nine areas selected by Fifth Third Bank, National Association and Enterprise Community Partners for $180 million in investment. The program's focus is to fund revitalization in majority-Black areas that fit under the Fifth Third Bank retail footprint.
"This program goes beyond infusing capital into neighborhoods," Fifth Third CEO and chairman Greg Carmichael said in a statement released on Thursday. "We are working to make a significant impact by targeting investments in specific areas, collaborating with communities and their leading organizations and driving change through tangible place-based methods."
Fifth Third Bank will be working with the Avondale Development Corporation. According to the statement, the funding will come in the form of lending, investments and philanthropic support, "depending on each neighborhood's aspirations, opportunities and economic plan."
For more information on the program, visit 53NeighborhoodInvest.org.
