US EPA to offer $6 billion in water infrastructure loans to improve water quality
The US Environmental Protection Agency (EPA) has invited 38 projects across 18 American states to apply for funding under the Water Infrastructure Finance and Innovation Act (WIFIA).
Combined, the total amount to be borrowed under WIFIA loans will be approximately $6 billion (€5.4 billion) to help finance over $12 billion (€10.8 billion) in water infrastructure investments and create almost 200,000 jobs.
“Through WIFIA, EPA is playing an integral role in President Trump’s efforts to improve and upgrade our nation’s water infrastructure and ensure all Americans have access to clean and safe water,” said EPA administrator Andrew Wheeler. “This announcement highlights billions of dollars in needed water infrastructure investments to upgrade ageing infrastructure, reduce exposure to lead and emerging contaminants and improve the lives of millions of Americans across the country – all while creating almost 200,000 jobs.”
The loans will enable communities across the US to implement projects to address national water priorities, including providing for clean and safe drinking water, addressing ageing water infrastructure, and developing water recycling and reuse projects.
The EPA received 51 letters of interest in response to the notice of funding availability for 2019, selecting 38 projects after a review process.
Established by the Water Infrastructure Finance and Innovation Act of 2014, WIFIA is a federal loan and guarantee programme administered by the EPA. Its aim is to accelerate investment in the nation's water infrastructure by providing long-term and low-cost supplemental credit assistance for regionally and nationally significant projects.
Details on the selected projects can be found here.
Combined, the total amount to be borrowed under WIFIA loans will be approximately $6 billion (€5.4 billion) to help finance over $12 billion (€10.8 billion) in water infrastructure investments and create almost 200,000 jobs.
“Through WIFIA, EPA is playing an integral role in President Trump’s efforts to improve and upgrade our nation’s water infrastructure and ensure all Americans have access to clean and safe water,” said EPA administrator Andrew Wheeler. “This announcement highlights billions of dollars in needed water infrastructure investments to upgrade ageing infrastructure, reduce exposure to lead and emerging contaminants and improve the lives of millions of Americans across the country – all while creating almost 200,000 jobs.”
The loans will enable communities across the US to implement projects to address national water priorities, including providing for clean and safe drinking water, addressing ageing water infrastructure, and developing water recycling and reuse projects.
The EPA received 51 letters of interest in response to the notice of funding availability for 2019, selecting 38 projects after a review process.
Established by the Water Infrastructure Finance and Innovation Act of 2014, WIFIA is a federal loan and guarantee programme administered by the EPA. Its aim is to accelerate investment in the nation's water infrastructure by providing long-term and low-cost supplemental credit assistance for regionally and nationally significant projects.
Details on the selected projects can be found here.
