The Massachusetts Clean Water Trust

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

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1 Center Plaza, Suite 430, Boston, MA 02108




Who we serve

Since its establishment in 1989, the Trust has partnered with the Massachusetts Department of Environmental Protection (MassDEP) to help develop and finance water infrastructure projects serving communities across the Commonwealth. It manages public funds  with prudence, professionalism and integrity.

The Trust oversees the Massachusetts State Revolving Fund (SRF). The SRF loan program receives funding from 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 bonds are used to fund loans to local governments. Leveraging allows for a greater amount of lending than would be possible by issuing only direct loans from grant funds. The Trust has financed approximately $7 billion to nearly three hundred borrowers, serving 97% of the Commonwealth’s population.

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