ASIAN BANK

Award purpose

PURPOSE: THE BANK ENTERPRISE AWARD PROGRAM (BEA PROGRAM) PROVIDES MONETARY AWARDS TO FDIC INSURED DEPOSITORY INSTITUTIONS (I.E., BANKS AND THRIFTS) THAT DEMONSTRATE INCREASES IN THEIR (I) INVESTMENTS AND SUPPORT TO CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS (CDFIS), OR (II) LENDING, INVESTING, OR SERVICE-RELATED ACTIVITIES IN THE MOST ECONOMICALLY DISTRESSED COMMUNITIES. PLANNED ACTIVITIES: THROUGH THE BEA PROGRAM, THE CDFI FUND AWARDS FORMULA BASED GRANTS TO DEPOSITORY INSTITUTIONS THAT ARE INSURED BY THE FDIC FOR INCREASING THEIR LEVELS OF LOANS, INVESTMENTS, SERVICE ACTIVITIES, AND TECHNICAL ASSISTANCE TO RESIDENTS AND BUSINESSES IN THE MOST ECONOMICALLY DISTRESSED COMMUNITIES; AND FINANCIAL ASSISTANCE AND TECHNICAL ASSISTANCE TO CERTIFIED CDFIS THROUGH EQUITY INVESTMENTS, EQUITY LIKE LOANS, GRANTS, STOCK PURCHASES, LOANS, DEPOSITS, AND OTHER FORMS OF ASSISTANCE; DURING A SPECIFIED PERIOD. END GOALS: EXPECTED OUTCOMES INCLUDE DEMONSTRATED INCREASED INVESTMENTS AND SUPPORT TO CERTIFIED CDFIS OR IN THE RECIPIENT’S LENDING, INVESTING, OR SERVICE-RELATED ACTIVITIES IN THE MOST ECONOMICALLY DISTRESSED COMMUNITIES. BENEFICIARIES: PROFIT ORGANIZATION, PRIVATE NONPROFIT INSTITUTION/ORGANIZATION, AND OTHER PRIVATE INSTITUTION/ORGANIZATION. SUBRECIPIENTS: THERE ARE NO SUBRECIPIENTS FOR THIS PROGRAM. BROADBAND: NOT APPLICABLE. REASON/PURPOSE OF MODIFICATION: NOT APPLICABLE.