The topic of disproportionate gender and racial biases for black women have been lingering around for years. Since the pandemic, more women are being forced to leave work and some are struggling to stay afloat. Global bank Goldman Sachs announced early Wesnesday (May 16) a plan that will support “millions” of black women.
The One Million Black Women plan is set to commit $10 billion dollars into investments on black women entrepreneurs and others. There will also be $100 million given in philanthropic support to aid the bias against black women. While not all the fund will be to businesses, most of the investment will fund healthcare, education, housing, and more.
Black Women Are Foundational to the US Economy
On the Goldman Sachs website it states that Black women are in fact foundational to the US economy. Though this is true, Black women still facing challenged with being under-resourced and underpaid. The One Million Black Women investment fund will featuring stories and experiences from these women.
What Will Goldman Sach’s One Million Black Women Fund?
The One Million Black Women fund provided by Goldman Sachs will consists financial support in 7 areas. These areas will be funded by the plan; Healthcare, Job Creation, Education, Housing, Internet Resources, Financial Health, and Access to Capital.
The Goldman Sach’s fund will provide affordable healthcare and increase access for black women.
Creating jobs is important for the US economy, so this fund will allocate financial resources for advancement in careers and companies.
The Goldman Sach’s fund will also increase access to affordable childhood education and quality schools. Allowing more options for black mothers.