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JP Morgan announces new division to fund at least $100 billion in emerging market projects

January 21, 2020


J.P. Morgan Chase announced the creation of a new business called the Development Finance Institution to boost private investment in emerging-market development projects.

The lender said it can finance more than $100 billion annually from its investment bank and created a formal methodology to define projects that fit both commercial and development targets, according to a release from the New York-based bank. It also hired Faheen Allibhoy, an 18-year-veteran of the World Bank-affiliated International Finance Corporation, to lead the new group.

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