{"text":[[{"start":11.05,"text":"Bank of America has committed $250bn to fund US infrastructure projects in a move that will support Donald Trump’s “America First” agenda after the US president had lashed out at the bank’s chief executive."}],[{"start":24.65,"text":"The Wall Street bank on Wednesday said it would “mobilise and deploy” the capital over an 18-month period to support sectors critical to US interests “to help fuel America’s next era of economic growth, innovation and competitiveness”."}],[{"start":40.099999999999994,"text":"This would include direct lending, deal underwriting, investment, and advisory solutions in areas such as AI and energy, the bank said. BofA’s commitment is backdated from January 1 this year until July 4 next year."}],[{"start":54.949999999999996,"text":"“As America marks its 250th year, this initiative reflects our confidence in the country’s future and the investments that will shape it,” said Jim DeMare, BofA’s co-president. “The infrastructure that powers our economy, strengthens our energy security and secures our technological leadership will drive growth, create jobs and define America’s next chapter.”"}],[{"start":77.1,"text":"The commitment comes as US banks navigate an erratic relationship with the White House, marked by both business-friendly deregulatory policies and public attacks on chief executives and banks’ business models. The president has accused several banks of unfairly “debanking” him and threatened to cap credit card fees."}],[{"start":97.39999999999999,"text":"BofA’s chief executive Brian Moynihan has attracted the ire of Trump, who hit out at the long-serving executive at the 2025 World Economic Forum, claiming BofA had refused to open an account for him. Trump then snubbed Moynihan at a reception he held with other business leaders at Davos in January, the FT reported."}],[{"start":119.04999999999998,"text":"BofA’s commitment to invest in America’s competitiveness comes after JPMorgan — the country’s largest bank by assets — last year unveiled a $1.5tn decade-long plan to invest in projects it deems critical to the country’s economic security and resilience."}],[{"start":137.04999999999998,"text":"Morgan Stanley followed suit this week with a plan to invest $1.5tn over 10 years into infrastructure projects linked to AI, defence, critical minerals and other sectors the bank views as strategically important for the country."}],[{"start":151.39999999999998,"text":"BofA has played an active role in financing AI and power infrastructure in recent years. In April, it led a $14bn bond offering for an Oracle-backed data centre project in Michigan."}],[{"start":163.45,"text":"It also remains committed to its $1.5tn sustainable finance goal despite political backlash against renewable energy under the Trump administration."}],[{"start":182.49999999999997,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1786529480_2541.mp3"}