Funding will leverage public and private investments to keep lead and other contaminants out of drinking water and upgrade aging water infrastructure
The U.S. EPA announced the availability of funding that could provide as much as $5.5 billion in loans, which could leverage more than $11 billion in water infrastructure projects through the Water Infrastructure Finance and Innovation Act (WIFIA) program. Prospective borrowers seeking WIFIA credit assistance must submit a letter of interest by July 6, 2018.
The WIFIA program received $63 million in funding in the Consolidated Appropriations Act, 2018, which was signed into law by President Donald Trump on March 23, 2018. This more than doubles the program’s funding from 2017. Leveraging private capital and other funding sources, these projects could support $11 billion in water infrastructure investment. This year’s Notice of Funding Availability (NOFA) highlights the importance of protecting public health including reducing exposure to lead and other contaminants in drinking water systems and updating the nation’s aging infrastructure.
The WIFIA program will play an important part in making vital improvements to the nation’s water infrastructure and implementing the President’s Infrastructure Plan, which calls for increasing the program’s funding authorization and expanding project eligibility.
Established by the Water Infrastructure Finance and Innovation Act of 2014, the WIFIA program is a federal loan and guarantee program at EPA that aims to accelerate investment in the nation’s water infrastructure by providing long-term, low-cost supplemental loans for regionally and nationally significant projects.
For more information about WIFIA and this funding announcement, visit: https://www.epa.gov/wifia