JP Morgan to invest $30 million in impoverished areas around Paris JP Morgan, the biggest US bank by assets, has said that it has selected impoverished areas around Paris as the first foreign focus of an urban economic development strategy it started four years ago in Detroit, according to a report in Reuters. The report said that the bank will contribute $30 million over five years to programs to teach job skills and expand small businesses in Saint Denis and other places with high unemployment and poverty, JPMorgan said in a statement provided to Reuters. Located north of Paris, Saint Denis has the highest poverty and crime rates in France. Dotted with large social housing projects, the area is separated from wealthy Paris only by an extremely congested highway circling the city. The area was in the center of the riots that devastated suburbs all over France a decade ago. Dijon nominated for World Smart City Award The city of Dijon’s ‘On Dijon’ project has made it on to the shortlist for the World Smart City Award. One of seven global finalists, ‘On Dijon’ will connect services such as road signs, street lighting and transport… Read full this story
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