Massachusetts Clean Water Trust — MCWT

Massachusetts Clean Water Trust — MCWT

The Massachusetts Clean Water Trust (MCWT) is a state agency that improves water quality throughout the Commonwealth by providing low-interest loans to municipalities and other eligible entities.


3 Center Plaza, Suite 430, Boston, MA 02108



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Who we serve

Since its establishment in 1989, MCWT has partnered with the Massachusetts Department of Environmental Protection (MassDEP) to help develop and finance water infrastructure projects serving 97% of Massachusetts citizens. MCWT manages the public funds entrusted to it with prudence, professionalism and integrity.

MCWT oversees the Massachusetts State Revolving Fund (SRF).  The SRF loan program receives funding from the the United States Environmental Protection Agency in the form of an annual grant, supplemented by state matching funds and the repayment of funds from previous borrowers.  When loans to local governments are paid back, the money is recycled and lent out again, which is how the fund "revolves."

The Trust uses a "leveraged model," in relation to its funds.  Bonds are issued, secured by the debt service payments from borrowers, contract assistance from the Commonwealth and interest earnings, which are all put on reserve.  The proceeds from the bonds are used to fund loans to local governments.  Leveraging allows a greater amount of lending than would be possible by issuing only direct loans from grant funds.  Since its establishment, the Trust has loaned approximately $7 billion to nearly 300 borrowers.

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