OREANDA-NEWS. The American corporation Apple intends to allocate $ 2.5 billion over two years for affordable housing programs in California, as well as to assist citizens in their acquisition. This is stated in a statement published on Monday on the company's website.

As follows from the document, the management of the corporation is concerned about the rapid growth in the value of homes and apartments in California. Apple plans to allocate $ 1 billion to a fund from which loans for the construction of affordable housing in the state will be allocated. The company will invest the same amount in a mortgage fund from which it will provide loans for the purchase of housing to employees of the state’s most important services, school teachers, and past military personnel service.

The company will also allocate land in the amount of $ 300 million for the construction of affordable housing. In addition, $ 150 million will be used to finance construction projects in the area of ​​the city of San Francisco (California). Apple will provide another $ 50 million to help the homeless.