Black churches pledge $1 billion in Katrina relief

DALLAS — In the largest cooperative effort of its kind, three historically black Baptist denominations have agreed to raise $1 billion for ongoing recovery efforts in the wake of Hurricane Katrina.

The National Baptist Convention, USA; the National Baptist Convention of America; and the Progressive National Baptist Convention have created the National Baptist Convention Development Initiative to oversee the effort, which will include funds for rebuilding houses, churches and businesses in New Orleans. Some funds from the ambitious plan will be earmarked for new homeowner classes and help with credit and mortgage problems.