Community development financing growing.The annual growth rate of community development financial institutions (CDFIs) providing financial products and services to economically disadvantaged people and communities rose almost twice as quickly as commercial banks between 2000-2002, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a new study from the CDFI CDFI Community Development Financial Institutions Data Project. While commercial bank assets grew approximately 6.5 percent annually over that period, CDFI assets grew at a compound annual growth rate (CAGR CAGR See: Compound Annual Growth Rate ) of 13 percent annually, according to the study. Mark Pinsky, chairman of the CDFI Data Project, said: "As economic distress increased during the recession, CDFIs responded by expanding their capacity to stimulate new high-quality jobs, quality affordable housing units, vital community facilities and basic financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. for low-income and low-wealth people. "While other financial service providers pulled back from these markets, CDFIs stepped up." |
|
||||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion