Texas to Approve up to $3.9bn in Funding for Water Projects

Texas Water Development Board (TWDB) is considering approval of funding worth $3.9bn from the State Water Implementation Fund for Texas (SWIFT). TWDB will be reviewing 21 applications and will consider approving approximately $1bn in projects for the first year. The remaining funds will be allocated over the next decade. SWIFT will offer flexible financing options to the applicants, which will involve provision for board participation, low-interest loans, and deferred loans for projects in the state water plan. The approved contenders will also be allowed to apply for multi-year commitments as water projects can take a lot of time for designing, construction, and implementation.