Amazon will allocate $ 2 billion for affordable housing in some cities that have facilities, the company said on Wednesday.
The Housing Equity Fund aims to "create or maintain 20,000 affordable homes in all three major regions - Arlington, Puget Sound and Nashville. It will also help local families achieve long-term stability while building strong, inclusive communities", so Amazon founder and CEO Jeff Bezos said in a statement.
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The money is provided in the form of sub-market loans and grants to housing partners as well as traditional and nontraditional housing agencies and minority-run agencies.
Amazon will begin investments with $ 381.9 million for residential real estate in Arlington, Virginia and $ 185.5 million for Washington state.
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