The U.S. Environmental Protection Agency (EPA) recently announced the availability of funding that could provide as much as $5.5 billion in loans, which could leverage over $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 (LOI) by July 6, 2018.
“Thanks to the President’s leadership, this WIFIA funding will spark new investments to repair our nation’s crumbling water infrastructure,” said EPA Administrator Scott Pruitt. “EPA will play a key role in the President’s infrastructure efforts by incentivizing states, municipalities, and public-private partnerships to protect public health, fix local infrastructure problems, create jobs, and provide clean water to communities.”
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 and create more than 170,000 jobs. 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.
“An investment in water infrastructure is an investment in our communities,” said Dr. Andrew Sawyers, director of the Office of Wastewater Management. “The WIFIA program helps improve water quality and protect public health while supporting the local economy.”
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.
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