Bank of America pledges $250bn for US infrastructure

Bank of America pledged Wednesday to mobilize $250 billion for critical US infrastructure through an 18-month initiative tied to the 250th anniversary of the United States.

The bank said the push would use direct lending and investment as well as banking and advisory services. It said the initiative would focus on digital infrastructure, including data centers; energy and power; and other core infrastructure, including transportation and critical minerals.

The initiative covers all of 2026 and runs through July 4, 2027. Bank officials did not immediately say how much funding had already been mobilized.

Jim DeMare, co-president of Bank of America, said the project reflected confidence in the country's future and would help drive growth and create jobs.

Bank of America is financial adviser to Related Digital's $16 billion data center project in Saline Township, Michigan. Oracle will be the tenant for the data center, which was announced in April.

Karen Fang, the bank's global head of infrastructure and sustainable finance, told BloombergNEF earlier this month that the debt for the Michigan project would be structured through 19-year bonds rather than through banks. She said the structure was intended to attract investors while allowing for possible refinancing, and said the bank had a robust pipeline of AI data center projects.

The announcement follows JPMorgan's October 2025 pledge to mobilize $1.5 trillion to promote US critical industries.