The funding will provide up to $6 billion to support $12 billion in water infrastructure projects and will aid in the creation of more than 35,000 jobs.
The U.S. EPA has announced up to $6 billion in new funding for water infrastructure projects.
Under its Water Infrastructure Finance and Innovation Act (WIFIA) program, including funding for the new State Infrastructure financing authority WIFIA (SWFIA) program, the U.S. EPA can provide up to $6 billion to support $12 billion in water infrastructure projects.
This new notice of funding will aid in the creation of more than 35,000 jobs and improve public health and environmental protection across the country, a press release from the EPA said. The release also stated that these funding programs “accelerate investment in critical water infrastructure through innovative and flexible financing that can support diverse projects in both large and small communities.”
This is the fourth round of WIFIA funding. The EPA has issued a total of $5.3 billion in 24 WIFIA loans to help finance $11.7 billion for water infrastructure. This notice of funding prioritizes construction-ready projects in three areas:
- Updating aging infrastructure
- Reducing exposure to lead and addressing emerging contaminants
- Water reuse and recycling
According to the press release, this notice builds on existing and active WIFIA projects, including 49 projects in 19 states and Washington D.C. The EPA will evaluate submissions using criteria that was developed to help clarify budgetary restrictions. Letters of interest from WIFIA borrowers will be accepted for 90 days following publication in the Federal Register, the press release said.
For the first time, also, the EPA is providing funds under SWIFIA. The new program, which was authorized by congress as part of America’s Water Infrastructure Act of 2018, “offers low-interest loans to state water infrastructure programs (e.g., the State Revolving Funds) that then help finance needed water infrastructure projects in local communities,” the press release said.
SWIFIA borrowers can receive up to $1 billion to support $2 billion in water infrastructure projects during this round of funding. Letters of interest from state water infrastructure programs will be accepted for 60 days after publication in the Federal Register.
Read more about water funding:
- State of Washington Awarded $216 Million for Clean Water Projects
- U.S. EPA Explores Great Lakes Water Quality Improvements
- Greencastle Storm Water Fee Rebate Approved