Goldman Sachs GroupThe group announced on Wednesday that it will invest $10 billion over the next 10 years to implement a program called "1 million Black Women" to support black women, focusing on areas such as health care, employment and education.

The bank said the move was part of its commitment to affect the lives of at least 1 million black women by 2030.

Goldman Sachs Group created a $10 million fund last year to promote racial equality. At the time, the company said it had invested about $200 million in organizations dedicated to providing services to communities of color over the past decade.