By CBSNewYork Team

NEW YORK (CBSNewYork)Goldman Sachs has announced a new multi-billion dollar plan to improve the economic standing of Black women.

The firm’s CEO and the head of its urban investment group spoke for the first time on TV about this initiative in an interview on CBS This Morning.

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The “One Million Black Women” program will focus on areas including health care, education, housing and jobs.

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“These are the foundational elements in a Black woman’s life that really drive economic prosperity, and we think when we can start to narrow some of those opportunity gaps, we unlock her potential,” said Margaret Anadu, partner at Goldman Sachs and head of the urban investment group.

“If we can close the wage gap for Black women in this country, we can create 1.7 million more jobs,” said David Soloman, Goldman Sachs CEO and chairman.

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Goldman Sachs says it will commit $10 billion in direct investment capital and $100 million in philanthropic capital over the next 10 years to support this initiative.

CBSNewYork Team