The White House Rural Council today announced the creation of the new U.S. Rural Infrastructure Opportunity Fund through which private entities can invest in job-creating rural infrastructure projects across the country.CoBank, a cooperative bank based in Greenwood Village, Colo., is the fund’s “anchor” investor, providing $10 billion in capital, said CEO Robert Engel. The fund will provide loans for rural projects in sectors such as water, wastewater treatment, electricity generation and transmission, and schools
The U.S. Department of Agriculture (USDA) and other federal agencies will help to identify rural projects that could be potential beneficiaries of financing through this new fund and other private sources. The fund is immediately open for business and more investors including pension funds, endowments, foundations, and other institutional investors can now add to the current $10 billion in available capital.