On Oct. 9, the U.S. Environmental Protection Agency (EPA) announced that the Indiana Finance Authority (IFA) would receive a $436 million WIFIA loan to finance 23 wastewater and drinking water projects across the state.
The loan to the Indiana Finance Authority marks the first time EPA has provided WIFIA financing directly to a State Revolving Fund (SRF) program.
By using its SRF assets to leverage a WIFIA loan, Indiana's innovative financing approach will allow it to lend nearly $900 million to 23 projects across the state, including 10 in rural communities. "These projects will improve water quality and protect the health of millions of Hoosiers while also creating well-paying jobs," said EPA Administrator Andrew Wheeler. "With this loan closing, EPA has now issued 13 WIFIA loans totaling over $3.5 billion in credit assistance to help finance over $8 billion for water infrastructure projects and create over 15,000 jobs."
The 23 projects will serve more than 1.2 million people in both Indianapolis and small and medium Indiana communities facing challenges with adequate and reliable water infrastructure. Drinking water projects include improvements to water treatment plants, storage tanks, distribution system components, wells, pump stations, and resiliency features, as well as water conservation measures. Wastewater projects include improvements and increased capacity to wastewater treatment plants, tunnels to capture combined sewer overflows, and collection systems.
