JP Morgan Chase & Co spreads urban development fund to Paris


Paris / New York: The biggest US bank by assets, JP Morgan Chase & Co revealed yesterday that it has chosen the impoverished areas around Paris.

JP Morgan Chase & Co selected some impoverished areas around Paris as their 1st foreign focus of the development strategy. However, they started it 4 years ago in Detroit.

The JP Morgan Chase & Co bank will contribute the $30 million over the next 5 years in some programs. However, these programs will educate about job skills and help to grow small businesses in Seine-Saint-Denis and areas with high poverty and unemployment.

Seine-Saint-Denis is located at north of Paris and has the highest crime and poverty rate in France.

Specked with extensive social lodging ventures, the zone is isolated from well off Paris just by a to a great degree congested parkway revolving around the city. The region was in the focal point of the mobs that crushed rural areas all over France 10 years back.

The $30 million for Paris is a piece of $500 million JPMorgan said in September that it would spend in upwards of 30 urban communities.

JPMorgan utilizes around 200 workers in France among somewhere in the range of 255,000 around the world. Company’s net income in 2017 was $24.4 billion.


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