The U.S. Environmental Protection Agency is disbursing $688 million in loans to fund improvements to water infrastructure projects in three locations, the agency announced last month.
The loans, part of the Water Infrastructure Finance and Innovation Act (WIFIA), will finance projects in Baltimore, Md.; Milwaukee, Wis.; and the San Francisco Bay area, the EPA announced Jan. 19. WIFIA, a federal loan program administered by EPA, promotes investment in the country's water infrastructure through low-cost, long-term financial assistance for approved improvement projects, according to the EPA.
“Investing in water infrastructure strengthens the health of our communities while creating good paying jobs," EPA Administrator Michael Regan said in the announcement.
EPA is receiving more than $50 billion through the Bipartisan Infrastructure Law to improve the nation's drinking water supply and wastewater infrastructure, the "single largest investment in water that the federal government has ever made," the EPA states in the announcement.
"The public health, environmental, and economic benefits of these projects are illustrative of what many more communities will see under the Bipartisan Infrastructure Law," the EPA reports.
In 2021, the first year of the Biden-Harris administration, EPA closed 29 WIFIA loans, investing over $5 billion in communities across the country to protect public health and the environment while creating over 36,000 jobs, the agency states. In 2022, EPA is providing $7.4 billion through the law to the State Revolving Funds, with funding continuing for the next five years.
“In my first year as EPA Administrator, I have visited communities from coast to coast," Secretary Regan said in the announcement. "I’ve seen aging infrastructure that communities count on for clean and safe water. I’ve seen the harm that is caused when water systems fail, and I’ve seen the revitalization that comes with new investment."
