Treasury's Community Development Financial Institutions ("CDFIs") Fund opened its FY2021 Rapid Response Program ("RRP") to "quickly and broadly" deploy capital to address economic hardships created by the COVID-19 pandemic and advance racial justice.

The RRP will provide $1.25 billion to CDFIs to serve low-income communities and those who lack access to financing. The application round for the program will be open for one month. Applications must be submitted to the fund by March 25, 2021.

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