The U.S. Department of the Treasury has awarded Boston-based Wainwright Bank & Trust Co. and Affirmative Investments Inc. a $25 million allocation in the sixth round of the federal New Markets Tax Credits (NMTC) program.

Of the 239 organizations that applied earlier this year, Wainwright is one of only 70 selected.
The NMTC program awards tax incentives to private sector investors who provide investment capital to entrepreneurs and businesses that create economic growth and jobs in distressed neighborhoods, according to Wainwright.

"We will partner with CDCs and private developers to provide financing for projects in four highly distressed Boston neighborhoods: Hyde Park, Mattapan, Dorchester and Roxbury," said Jan A. Miller, President and CEO of Wainwright Bank.

Wainwright applied for the NMTC allocation jointly with Affirmative Investments.