Amazon pledges $2 bn to affordable housing

Amazon will direct $2 billion in loans and grants to secure affordable housing near three American cities where the company employs thousands of workers, the tech giant announced on Wednesday. In a first step in the Puget Sound region, Amazon is promising $185.5 million, mostly in loans, to the King County Housing Authority to help buy affordable apartments in the region and keep the rents low. The Housing Authority will use an initial portion of that money to help fund its recent purchase of three Bellevue apartment buildings. — dpa