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Program Information

 

Informational webinar

Find out more about the CWIFP loan program including: eligibility, benefits, and how to apply.

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Webinar Presentation PDF

CWIFP logo: a waterdrop over a green circle. Text reads: Corps Water Infrastructure Financing Program, an innovative approach to project financing.

Overview

The Corps Water Infrastructure Financing Program (CWIFP) enables local investment in infrastructure projects that enhance community resilience to flooding, promote economic prosperity, and improve environmental quality. Through CWIFP, the U.S. Army Corps of Engineers (USACE) will accelerate non-federal investments in water resources infrastructure by providing long-term, low-cost loans to creditworthy borrowers.

CWIFP is authorized by the Water Infrastructure Finance and Innovation Act (WIFIA) which was signed into law on June 10, 2014 as part of the Water Resources Reform and Development Act of 2014. The Act established Federal credit programs to be administered USACE and the Environmental Protection Agency (EPA) for eligible water and wastewater infrastructure projects. Additional information about EPA’s WIFIA program can be found here.

Key Features of CWIFP:

  • Long-term, low-cost credit assistance for water resource infrastructure projects (currently limited to dam safety projects that are non-federally owned, operated, and maintained)
  • Funding of up to 49% of project costs, or up to 80% of project costs for projects that serve economically disadvantaged communities
  • Augments other public or private funding and financing sources
  • Requires a dedicated source of repayment (i.e. state or local taxes, user fees, etc.)
  • Available to projects or group of projects with eligible costs in excess of $20 million

CWIFP is now accepting loan applications as the program’s Notice of Funding Availability has been published in the Federal Register. Using the appropriations it has received, USACE is working diligently to begin issuing loans to qualified non-federal borrowers. The final program rule for CWIFP was published in the Federal Register on May 22nd, 2023. USACE has been working closely with the EPA to coordinate resources to implement this critical program.

CWIFP is part of the Revolutionize USACE Civil Works initiative to expedite delivery of our nation's infrastructure by improving partnerships, synchronizing actions, developing new tools, and streamlining activities.

 


 

September 20, 2023 - The U.S. Army Corps of Engineers is accepting application for a new $7.5 billion credit assistance program, the Corps Water Infrastructure Financing Program (CWIFP), for dam safety projects. By providing low cost, long-term, flexible loans for dam safety projects, the CWIFP will accelerate non-federal investment in the nation’s dam infrastructure.

June 21, 2023 - Mr. Michael Connor, Assistant Secretary of the Army for Civil Works, signed the Notice of Funding Availability on 21 June. Once this is published in the federal register, the Corps' New Federal Loan Program will be able to receive applications. The program final program rule was effective on 21 June and upon publication in the Federal Register the Corps will begin a 90-day application period.

May 16, 2023 - The Office of the Assistant Secretary of the Army for Civil Works and the U.S. Army Corps of Engineers announced the signing of a final rule to implement a new credit assistance program for dam safety projects. Read more here.

The Assistant Secretary of the Army for Civil Works signed a final rule to implement a new credit assistance program for dam safety projects.

June 10, 2022 - The draft rule to establish CWIFP has been published in the Federal Register for public review and comment until August 9, 2022. The draft rule is a major step in the implementation of CWIFP.

To date, CWIFP has received a total of $81 million for credit subsidy and an additional $15.4 million for administration of the program. This will allow USACE to issue up to approximately $7.5 billion in loans to projects that are focused on maintaining, upgrading and repairing dams identified in the National Inventory of Dams as being owned by non-federal entities. More information on CWIFP funding can be found here.