WIFIA establishes an EPA-administered water infrastructure bank providing low-interest, long-term loans and loan guarantees.

Key Points:

..EPA has now fully launched the federal water infrastructure bank established by WIFIA.

..WIFIA authorizes EPA to make long-term, low-interest loans and loan guarantees to a broad array of water projects, including public, private, and public-private partnerships.

..Congress thus far has provided funding sufficient for nearly US$8 billion in loans or loan guarantees, and there is strong, bipartisan support for the program going forward.

..WIFIA offers many attractive features, but prospective borrowers need to understand and navigate the array of regulatory, procedural, and other requirements governing the program.