An Innovative Approach to Project Financing
By providing long-term, low cost loans, the U.S. Army Corps of Engineers through the Corps Water Infrastructure Financing Program (CWIFP), as authorized by the Water Infrastructure Finance and Innovation Act (WIFIA), enables local investment in infrastructure projects that address community water resource needs, promote economic prosperity, and improve environmental quality.
The draft rule for the CWIFP has been published in the Federal Register. “The Corps is taking a significant step to support our non-Federal partners by publishing the proposed rule for this federal credit program,” said Lt. Gen. Scott A. Spellmon, 55th Chief of Engineers and USACE commanding general. “This program will promote local investment in non-Federal dam safety projects, reducing risk to communities and providing an opportunity to address aging infrastructure needs.” Following public review, a final rule is expected to be published as soon as the Spring of 2023, allowing for the program to accept loan applications shortly thereafter.