JPMorgan Chase commits $1.5trn over a decade to boost critical industries like minerals. The initiative addresses national security risks and aims to fortify US supply chains by investing in key sectors and supporting domestic production. CEO Jamie Dimon stresses the importance of economic strength and resilience for national security.

The investment bank plans to increase financing by $500bn to support clients in vital industries. JPMorgan Chase will invest $10bn in equity and venture capital to enhance growth and innovation in select US companies. The initiative focuses on 27 sectors, including mining and defence, to drive strategic manufacturing and economic growth.

JPMorgan Chase aims to advocate for policy changes to simplify permitting processes and reduce regulatory barriers in critical sectors like mining. The bank, with $4.6trn in assets, plans to recruit industry experts and establish an advisory council. The goal is to offer customized financing solutions and advisory services to support domestic production.

The initiative emphasizes access to critical minerals, life-saving medicines, and technologies like semiconductors and data centers. JPMorgan Chase remains committed to supporting clients in key industries. In 2020, the bank set limits on financing for coal mining and coal-fired power, aligning with a low-carbon economy.

Read more at Yahoo Finance: JPMorgan launches $1.5trn initiative to boost critical industries including minerals