Philadelphia, June 10, 2021 – Reinvestment Fund applauds news this week from the U.S. Department of Agriculture that it will invest more than $4 billion to strengthen critical supply chains in the food system. Part of the Biden Administration’s Build Back Better initiative, the new effort will strengthen the food system, create new market opportunities, tackle the climate crisis, help communities that have been left behind, and support good-paying jobs throughout the supply chain.
“COVID-19 shined a light on the need for stronger local food supply infrastructure, as grocery stores and food producers became essential businesses and lifelines for families,” said Don Hinkle-Brown, President and CEO of Reinvestment Fund. “We commend the Administration and the USDA for this transformational investment that recognizes the food system as essential infrastructure for local and regional economies.”
For more than two decades, Reinvestment Fund has pioneered a comprehensive approach to supporting an equitable, resilient food system that ensures all Americans, regardless of where they live or how much they make, can get the food they need to keep their families healthy. Over that time, it has provided $300 million in grants and loans to healthy food projects.
Reinvestment Fund, a Community Development Financial Institution, currently serves as the National Fund Manager for the Healthy Food Financing Initiative (HFFI), supported by the USDA, which provides financial and technical assistance to create and expand food retail and food systems projects in underserved rural and urban areas.