Puerto Rico Can't Tap $774,000 in Water Project Funds

摘要

Puerto Rico won't have access to about $774 million of federal funds for wastewater and drinking water projects for at least a few years because of its financial crisis, an EPA inspector general's audit found. The territory's dire financial situation-it owes creditors about $70 billion and has defaulted on some loans-has affected both the Puerto Rico Government Development Bank and the Puerto Rico Aqueduct and Sewer Authority (PRASA), which owes the vast majority of outstanding loans due for repayment into the revolving funds.