EPA Announces $500M Loan To Modernize Wastewater And Drinking Water Infrastructure In New Jersey
January 5, 2023
Today, the U.S. Environmental Protection Agency (EPA) announced a $500M loan to the New Jersey Infrastructure Bank to modernize wastewater and drinking water systems serving over 10 million people throughout New Jersey. This is the first loan issued through the State Infrastructure Financing Authority Water Infrastructure Finance and Innovation Act (SWIFIA) program, which provides loans exclusively to state infrastructure financing authority borrowers, commonly known as state revolving fund programs.
“The EPA is thrilled to announce our first SWIFIA loan to New Jersey, a state that is making great strides in utilizing water infrastructure investments to improve access to clean, safe water for all residents,” said EPA Assistant Administrator for Water Radhika Fox. “With EPA’s low-interest WIFIA loan, New Jersey will invest in over 90 communities across the Garden State and create about 16,000 jobs while saving approximately $62.5M. The Biden Administration is proud to expand our successful WIFIA program to now offer dedicated loans to state infrastructure financing authorities.”