The U.S. Environmental Protection Agency (EPA) has announced $7.5 billion in available funding through the Water Infrastructure Finance and Innovation Act (WIFIA). This low-interest loan program is designed to accelerate projects related to drinking water, wastewater, and stormwater systems, while also promoting job creation and cost savings.
EPA Administrator Michael S. Regan emphasized the numerous benefits of investing in water infrastructure, including public health, environmental protection, and local economic growth. He stated that investing in water supports healthy individuals, economic opportunities, environmental preservation, and well-paying local jobs. This funding supplements the previous $50 billion allocation under the Bipartisan Infrastructure Law.
According to the September 21, 2023 announcement, the latest WIFIA funding consists of $6.5 billion for the main program and an additional $1 billion for State WIFIA (SWIFIA), which targets State infrastructure financing authorities. The EPA is currently inviting letters of interest and providing technical guidance to help communities meet the program's criteria, particularly benefiting smaller and disadvantaged communities.
In this funding round, the EPA has set key priorities, including investments in economically disadvantaged communities, lead pipe replacements, addressing emerging contaminants like PFAS, and enhancing resilience against environmental challenges such as drought. The WIFIA program has previously funded significant projects, such as a $52 million loan to Pittsburgh for infrastructure modernization and a $305 million loan to Florida's Polk Regional Water Cooperative for water supply preservation.
The new $7.5 billion funding builds upon the achievements of last year, which included 42 borrowers, 17 of whom were from small and disadvantaged communities. Established in 2014, the WIFIA program aims to expedite investments in U.S. water infrastructure through long-term, low-interest loans, thereby contributing to job creation and overall economic vitality.
