Community Development Financial Institutions (CDFIs)
• Description: CDFIs are specialized financial institutions that serve low-income and underserved communities. They provide affordable credit and banking services to collectives and cooperatives, especially for community development projects.
• Success Story: In the United States, CDFIs have played a crucial role in financing cooperative businesses, affordable housing, and community projects, helping to rebuild economically disadvantaged communities.
• Key Features:
• Focus on social impact
• Partnerships with government and private sector
• Long-term loans for community development projects
• Financial education and support
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