After seven years of hard work, WIFIA has finally been created. WIFIA (also known as the Water Infrastructure Finance and Innovation Authority) is a new $350 million federal financing program for water projects. This is the largest water infrastructure program in decades and is exciting news for communities nationwide.
Authorizing funding for the construction and repair of waterway projects across the U.S., the new WIFIA program is designed to promote increased and accelerated development of critical water infrastructure projects. This program is part of a larger initiative, The Water Resources Reform and Development Act (WRRDA).
WIFIA in Action
The WIFIA program will provide long-term, low-interest loans and loan guarantees for water and wastewater infrastructure projects. These loans will be available for up to 49 percent of the project’s cost, including design, environmental review, permitting, property acquisition, engineering, environmental mitigation, and construction.
Projects that can apply for funding include:
- Drinking water
- Wastewater
- Water and wastewater utility energy efficiency
- Water desalination
- Flood control
- Aquatic ecosystem restoration
- Inland and intracoastal navigation
- Coastal navigation and harbor
Click here to watch the signing ceremony and to find out more about WIFIA and WRDDA!