Today, March 22, the U.S. Environmental Protection Agency is celebrating World Water Day and releasing its 2023 Water Infrastructure Finance and Innovation Act (WIFIA) annual report. The report highlights $3 billion in water infrastructure investments across the country. These investments in local communities protect public health and the environment, create good-paying jobs, and help support affordable water bills compared to alternative financing options.
“This World Water Day, EPA is celebrating historic investments we’re making in the nation’s water infrastructure to secure the health and wellbeing of millions of Americans,” said EPA Acting Assistant Administrator for Water Bruno Pigott. “Last year, we committed $3 billion through our WIFIA loan program and more through President Biden’s Bipartisan Infrastructure Law. These federal dollars are at work in your neighborhood, making drinking water safer and wastewater systems more effective while creating thousands of good-paying jobs.”
From Philadelphia (pdf) to St. Louis and San Francisco (pdf), WIFIA loans finalized in 2023 are benefiting communities across the country by providing lo w-interest loans for critical water infrastructure projects. In 2023, EPA closed $3 billion in WIFIA loans supporting water infrastructure in 10 states and strengthening drinking water, wastewater, and stormwater systems that support 16 million people. Through these loans, communities and water systems are saving approximately $1 billion while project construction and operation are creating nearly 20,000 jobs. In addition to loan closings, the WIFIA program made significant progress building the pipeline of future loans. The WIFIA program selected over 30 water infrastructure projects for future funding.
EPA’s WIFIA loan program is one of several ways EPA is investing in the nation’s water infrastructure, this World Water Day and year-round. Through the Bipartisan Infrastructure Law, EPA is investing $50 billion in drinking water and wastewater infrastructure. To date, EPA has invested more than $13 billion in Bipartisan Infrastructure Law funds across all 50 states and territories. Explore an interactive StoryMap highlighting water infrastructure success stories.
For more information about WIFIA’s 2023 successes, view the annual report or the WIFIA Fund Facts Dashboard.
Background:
Established by the Water Infrastructure Finance and Innovation Act of 2014, the WIFIA program is a federal loan program administered by EPA. The WIFIA program aims to accelerate investment in the nation’s water infrastructure by providing long-term, low-cost supplemental credit assistance for regionally and nationally significant projects. The WIFIA program has an active pipeline of pending applications for projects that will result in billions of dollars in water infrastructure investment and thousands of jobs.
EPA made the seventh round of WIFIA financing available and is currently accepting letters of interest for WIFIA and SWIFIA loans. $6.5 billion is available through WIFIA, and $1 billion is available through SWIFIA, which is a loan program exclusively for State infrastructure financing authority borrowers. EPA is currently accepting letters of interest for WIFIA and SWIFIA loans. Learn more about submitting a letter of interest for a WIFIA loan.
In addition to WIFIA loans, there are many federal funding resources available for communities and utilities to improve vital drinking water and wastewater resources. President Biden’s Bipartisan Infrastructure Law is a once-in-a-generation investment in our nation’s infrastructure and competitiveness. The Bipartisan Infrastructure Law provides a historic $50 billion investment in upgrading critical water, wastewater, and stormwater infrastructure.
from EPA News Releases https://ift.tt/azwB7He