T.D. Jakes has announced a 10-year partnership with Wells Fargo to drive “economic vitality and inclusivity” in underserved communities across America.
The goal of the partnership is to “revitalize neighborhoods, foster economic opportunity and create long-term change in communities most in need” over the next decade. As part of the collaboration, Wells Fargo has committed up to $1 billion to fund various projects that will further develop communities in need.
“The future looks very bleak, particularly for minorities — Black people, Brown people and also poor White people who are finding it difficult to find a job, to find opportunities to get housing, to get upward mobility,” Jakes said.
“This alliance allows us to further our four decades-long work to provide economic justice, eradicate food deserts, construct desirable workplaces and affordable housing, closing the digital divide and ultimately help families leave a rich and lasting legacy for the next generation,” he continued. “We are committed to ensuring additional opportunities actually reach as many areas of need that we can influence. Disruptive partnerships like this create a paradigm shift in how we can collectively bring long overdue transformation, particularly to Black and Brown communities and other marginalized groups around our nation.”
The foundations are already making plans to create mixed-income housing opportunities for families in need, as well as providing financial education and revitalizing neighborhoods in underserved communities in several cities — including Atlanta, Chicago and Dallas.