Fifth Third Bank has announced a plan to invest $20 million in South Chicago, the defunct steel town abandoned by the departure of the South Works steel plant in 1992.

The investment plan includes $2 million in funding for grassroots efforts and $18 million in financing for residential and business loans. Fifth Third’s efforts, in partnership with Claretian Associates, are part of a three-year revitalization scheme to revive the area and correct extended periods of disinvestment and under-funding.