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Congressional ____
~ Research Service
Corps Water Infrastructure Financing
Program (CWIFP)
Updated October 6, 2023
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-direct loans or loan guarantees-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 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
$103.6 million in enacted funding for the WIFIP account 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, Congress
enacted $7.2 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/govenck0001&div=1&collection=&method=preview&ext=.png&size=3)
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