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Michael Bloomberg, the billionaire New York City Mayor, will be announcing his launch of a major policy initiative to aid the city’s Black and Latino youth. 

The program will target about 315,000 Black and Latino men between the ages of 16 and 24 and help them with job placement, education and providing parenting classes.

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As Reported By Yahoo News: 

New York City will spend $127 million in public and private funds on programs designed to help young black and Latino men.

Billionaire Mayor Michael Bloomberg will kick in $30 million from his foundation and hedge fund manager George Soros will match that amount, according to the mayor’s office. The remaining $67.5 million will be paid by the city.

The Young Men’s Initiative was first reported by The New York Times on Wednesday. The mayor’s office called it the nation’s “boldest and most comprehensive effort to tackle the broad disparities slowing the advancement of black and Latino young men” in a statement.

SOURCE: Yahoo News

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