Green Bank for Rural America Empowers Rural Communities in New Energy Economy

Appalachian Community Capital (ACC) formally announced the Green Bank for Rural America, an ambitious initiative aimed at empowering rural communities to thrive in the new energy economy. With a $500 million award from the Environmental Protection Agency (EPA), the Green Bank will leverage private capital to finance an estimated $1.6 billion into 2,000 new energy projects, creating 13,000 good jobs and reducing up to 850,000 tons of harmful pollution annually.

The Mon Forest region of West Virginia has been represented on the steering committee by Woodlands Development & Lending Executive Director Dave Clark. Clark says that he is, “excited to be a part of bringing these resources to our communities. It has been rewarding to be a part of the group helping to guide the project.”

Rural communities in Appalachia and across the nation have long been the backbone of American energy production. The Green Bank for Rural America will build upon this legacy, revitalizing these communities by connecting them to new sources of financing, creating opportunities for a prosperous future. This transformative initiative will diversify local economies and create good-paying jobs, preserving the quality of life in rural places and the natural beauty of rural landscapes.

“The Green Bank for Rural America is a place-based effort that will be a hub for investment and technical assistance to community lenders, local leaders, and workforce development partners across the United States,” said Donna Gambrell, ACC President and CEO. “We are grateful to the EPA for this recognition. We want to ensure that no communities are left behind and that low-income and disadvantaged communities in Appalachia and other parts of this country benefit from efforts that will result in healthy communities for generations to come.”

A steering committee of leaders from various organizations, including ACC, Coalfield Development Inc., Coastal Enterprises Inc., CommunityWorks Carolina, Grow America, Kentucky Highlands Investment Corp., Main Street America, The West Virginia Community Development Hub, and Woodlands Development and Lending, will guide and support the Green Bank’s efforts. This collaborative approach ensures that the initiative is informed by diverse perspectives and expertise, maximizing its impact on rural communities.

The EPA’s $500 million award to ACC is part of the Greenhouse Gas Reduction Fund, a $27 billion initiative under the Inflation Reduction Act designed to promote a cleaner environment, improve economic competitiveness, and promote energy independence.