U.S. Transportation Secretary Ray LaHood recently announced that as part of the Transportation Infrastructure Finance and Innovation Act (TIFIA) program, his department will make $17 billion in loans available to states and cities for “critical infrastructure projects across the country,” according to a press release from the department. The TIFIA program — which was provided “$1.7 billion in capital over two years” from the recently enacted surface transportation bill, MAP-21 — provides “direct loans, loan guarantees, and standby lines of credit to major infrastructure projects with the potential to create jobs and spur economic growth,” the release said.
Additionally, the department announced the establishment of the Project Finance Center (PFC) to help government project sponsors “analyze financial options for highways, transit, rail, intermodal and other surface transportation projects facing funding challenges.” For more, read the press release.
