I was asked to provide a one-pager question about the WIFIA Loan Program for an upcoming webinar on water infrastructure and post-Covid-19 economic recovery.

Both the question and (I think) the answers are straightforward. Currently, WIFIA is acting very effectively as a specialized buyer of highly rated water revenue bonds. That’s fine — as far as it goes. But the Program needs to be expanded for smaller, less-highly rated systems and (ideally) encourage innovative alternative investment. How to do that without derailing the Program’s current (and rare) successful trajectory?