USDA announces rural electric loans in 11 states
The Agriculture Department announced Tuesday a $598 million rural electric loan package to build or improve electric infrastructure in 11 states.
“The Biden-Harris administration is committed to bringing critical financial assistance to rural families and making significant investments in community infrastructure across rural America,” said Agriculture Secretary Tom Vilsack. “These USDA investments will bring affordable electric power to rural residents, tribal communities, community facilities, schools and medical institutions that perform critical services each day. Now is the time for our nation to make significant investments in infrastructure — roads, bridges, broadband and energy — to improve quality of life and support good-paying jobs, transition to a clean energy economy, and keep the United States poised to lead the global economy.”
The money is coming through the Electric Loan Program. This funding will benefit 460,000 rural residents and businesses in Arizona, Kentucky, Maine, Minnesota, Missouri, New Mexico, North Dakota, Oklahoma, South Carolina, Utah and Virginia. “Several of the loans will help expand smart grid technologies, which can be a catalyst for broadband and other telecommunications services in unserved and underserved rural areas,” USDA said.
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