![handle is hein.crs/goveiwx0001 and id is 1 raw text is: Congressional ____
'.Research Service
Corps Water Infrastructure Financing
Program (CWIFP)
September 22, 2022
In the Water Infrastructure Finance and Innovation Act of 2014 (WIFIA 2014, Title V, Subtitle C, of P.L.
113-121; 33 U.S.C. §§3901-3914, as amended), Congress authorized the U.S. Army Corps of Engineers
(USACE) to provide credit assistance, in the form of secured or direct loans, to specified eligible entities
for water resource projects. USACE's program is called the Corps Water Infrastructure Financing
Program (CWIFP). WIFIA 2014 also authorized an analogous program for the U.S. Environmental
Protection Agency (EPA) for water projects outside of USACE mission areas.
CWIFP Program Authority, Implementation, and Funding
WIFIA 2014 authorized USACE to provide credit assistance to projects with the following purposes:
reduction of riverine or coastal storm flood damage;
restoration of aquatic ecosystems;
improvement of the inland and intracoastal waterways navigation system;
improvement of navigation at a U.S. harbor; or
a combination of purposes supported by USACE and EPA WIFIA authorities (e.g.,
drinking water, wastewater, and/or stormwater system improvements).
USACE describes some benefits for CWIFP borrowers as interest rates near U.S. Treasury rates, possible
matching of repayment schedules with anticipated cash flows, and repayment periods up to 35 years after
construction completion. In FY2021, Congress created a USACE Water Infrastructure Finance and
Innovation Program (WIFIP) account and first funded the CWIFP to provide credit assistance. Of the
$96.4 million in enacted funding for WIFIP to date, Congress has indicated that $81.0 million is
specifically to support dam safety projects for nonfederally owned dams (based on ownership information
in the National Inventory of Dams [NID]), as shown in Table 1. For FY2023, the President requested
$10.0 million for program administration.
Congressional Research Service
https://crsreports.congress.gov
IN12021
CRS INSIGHT
Prepared for Members and
Committees of Congress](ViewImageLocal?handle=hein.crs/goveiwx0001&div=1&collection=&method=preview&ext=.png&size=3)
What Is HeinOnline?
Contact us for annual subscription options:
Already a HeinOnline Subscriber?
profiles profiles most
Contact us for annual subscription options:
Already a HeinOnline Subscriber?
profiles profiles most
Contact us for annual subscription options:
Already a HeinOnline Subscriber?
profiles profiles most