New EPA program gives $1 billion in credit assurance for water projects

The Environmental Protection Agency (EPA) has made $1 billion in credit assurance available for water infrastructure projects. The credit assurance is part of the EPA’s new Water Infrastructure Finance and Innovation Act (WIFIA) program, according to the Hannibal Courier-Post. The agency will give long-term, low-cost direct loans and loan guarantees to state, local and tribal governments as well as private entities and State Revolving Fund programs hat demonstrate creditworthy water projects. To be considered eligible, large communities’ projects must be at least $20 million in size, while communities with under 25,000 residents must enter a project of at least $5 million, according to an official release from the EPA. WIFIA requires the EPA to use at least 15 percent of its budget to fund smaller communities, according to a blog post by environmental and government attorney Bart Kempf.

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