Susuto

All 50 states, plus Puerto Rico operate a CWSRF. The 51 CWSRF programs function like environmental infrastructure banks by distributing low interest rate loans for water quality projects. Loan repayments are recycled back into individual CWSRF programs. States can only use the funds to make loans, purchase local debt, or issue financial guaranties.
They cannot make grants or otherwise dissipate the capital in their funds. Principal repayments plus interest earnings become available to finance new projects, allowing the funds to “revolve” over time. States can also increase their CWSRF financing capacity by issuing CWSRF backed revenue or general obligation bonds. To date, 27 states have leveraged their programs in this way, raising an additional $20.6 billion for important water quality projects.

Sound financial management, continued federal support, and the unique revolving structure of CWSRF programs have enabled them to address the increasing demand for water infrastructure financing. The programs are projected to continue to grow over time, as interest earnings and repayments of loans increase. Nationally, the CWSRF program provides a remarkable return on federal investment: over the last 20 years, the program has financed $2.31 in projects for every dollar the federal government has invested.