The U.S. Environmental Protection Agency (USEPA) announced the availability of $7.5 billion of Water Infrastructure Finance and Innovation Act (WIFIA) funding. The WIFIA program offers long-term loans to help communities implement critical water infrastructure projects.
The WIFIA program provides its borrowers with creative, affordable financing options. It can fund the planning, design, and construction of a wide range of water infrastructure projects and offers the ability to combine multiple projects into a single loan. By streamlining the funding process, communities can accelerate the completion of infrastructure projects. The WIFIA program offers interest rate resets, debt structuring, and timely disbursements, benefits not traditionally offered with other financing sources. For example, borrowers may defer repayment for up to five years following construction completion, and then customize the repayment schedule through the 35-year loan term. This flexibility provides borrowers with immediate funding to implement projects while helping to keep rates more affordable.
This is the eighth round of funding available, and it includes $6.5 billion available through WIFIA and $1 billion available through the State Water Infrastructure Financing Authority, known as SWIFIA. USEPA is accepting letters of interest for WIFIA and SWIFIA loans. To date, USEPA’s WIFIA program has closed loans totaling more than $20 billion to help finance $44 billion in projects across the country. More than 100 borrowers nationwide are utilizing WIFIA loans to finance projects that benefit over 64 million Americans. Completed WIFIA-financed projects show positive health and environmental outcomes, as well as the advantages of financing with WIFIA loans.
Visit the USEPA website to learn more about the WIFIA program or contact Abby Ritz, AE2S Nexus Funding Programs Specialist.