Goldman Sachs has announced the initial recipients of grants and investments awarded through its One Million Black Women initiative.

Launched in March, the $10 billion initiative, which includes $100 million in philanthropic capital, is aimed at advancing racial equity and economic opportunity by investing in Black women. Initial recipients of investment capital and grants include Birth Center Equity, which was awarded a grant to assist Black women-led community birth centers in providing access to new resources; the NYC COVID-19 Loan Facility, which will fund critical staffing needs related to the COVID-19 vaccination process and patient care at the city's safety-net hospitals; Prosp(a)rity Project in East Palo Alto, California, which will receive funding for an initiative that provides personalized financial coaching and retroactive scholarships to help manage student loan debt; Springboard to Opportunities: Magnolia Mother's Trust in Jackson, Mississippi, which was awarded support for a program that provides Black mothers living in extreme poverty with a $1,000 monthly stipend; and the Columbus-based Women's Fund of Central Ohio, in support of an initiative to address the systemic funding gap faced by nonprofits led by women of color.

"What has resonated with me is how Black women have grit and toughness and the willingness to get out there and make it work," said former U.S. secretary of state Condoleezza Rice, a member of the One Million Black Women advisory council. "As we make these investments and grants, along with that comes agency. Our partners will have responsibility. None of this will come as a surprise to Black women who have been [sacrificing and working hard] for a couple of centuries now."