Bank of America announced Wednesday it will provide $250 billion in financing to support critical infrastructure projects, aiming to enhance U.S. competitiveness, boost job growth, and ensure energy security. In a press release, the bank said this commitment covers lending, banking services, investments, and advisory services, spanning digital infrastructure, energy, and core infrastructure sectors, including data centers and computing materials, conventional and renewable power generation, energy storage, transportation, water systems, and critical minerals and mining.

"Infrastructure that powers the economy, strengthens energy security, and reinforces technological leadership will drive growth, create jobs, and define America's next chapter," Bank of America Co-President Jim DeMare said in a statement Wednesday.

The bank expects the initiative to drive job growth in construction, manufacturing, and technology. Bank of America noted that data centers, power generation facilities, grid modernization projects, and transportation infrastructure "require a highly skilled workforce to build, operate, and maintain."

The program will be led by Bank of America's Global Infrastructure and Sustainable Finance team, headed by Karen Fang, who also co-leads the Global Capital Solutions team.

"Meeting America's growing infrastructure needs requires mobilizing capital at scale across increasingly interconnected industries," Fang said in the statement. "Delivering these projects requires integrated financing solutions that span corporate and project-level capital, across public and private markets. By bringing together capital providers, developers, corporations, and investors, we are committed to helping accelerate infrastructure investment to drive economic growth and create lasting value for communities."

The $250 billion amount coincides with the 250th anniversary of American independence. Bank of America will deploy the funds over an 18-month period ending July 4, 2027, starting January 1, 2026.

This marks at least the second patriotic initiative on Wall Street this year, following JPMorgan Chase's launch of the "American Dream Initiative," under which the bank plans to lend $80 billion to small businesses over the next 10 years and expand one-on-one coaching and technical assistance to 115,000 small business owners across more than 80 cities.

Banks may be hoping to curry favor with the White House. Previously, President Donald Trump in January 2025 specifically accused Bank of America of excluding conservatives and their causes. More recently, Trump sued JPMorgan Chase and its CEO Jamie Dimon, alleging they "de-banked" him following the January 6, 2021, Capitol riot. JPMorgan denied the allegations, with the bank's lawyers calling Trump's lawsuit "thin on facts."

Additionally, the Trump Organization sued Capital One in March 2025, alleging the bank closed about 300 of its accounts in 2021 because "the political winds at the time favored doing so." Capital One disclosed last month that the accounts were closed after "months of analysis and careful review" by its internal anti-money-laundering team.