EPA prepares for $5.5 billion in new WIFIA loans
Published April 5th, 2018
The EPA yesterday advertised for its next round of loan applications under the Water Infrastructure Finance and Innovation Act (WIFIA) programme, with an expanded appropriation of $63 million in 2018, allowing it to provide approximately $5.5 billion in low-interest loans to water and wastewater projects in the US. Letters of interest (LoIs) are due in by 6th July.
The programme’s first round last year was heavily oversubscribed, with 43 LoIs resulting in 12 applicants, and the first loan is due to close this month ($129 million for King County, Washington).
Proponents recognise, however, that the WIFIA programme will do little to alleviate growing investment needs without significant additional appropriations. Late last week, the EPA published its latest report on drinking water needs in the US, which recognises a capital investment requirement of $472.6 billion between January 2015 and December 2034 – a 10% increase on the previous report’s estimate in 2013.