Austin News

U.S. Senators Ted Cruz and John Cornyn, along with other Texas delegation members, have reached out to the North American Development Bank (NADBank) to advocate for the revival of its Water Infrastructure Fund. This initiative aims to support border communities grappling with water shortages.

The letter sent by the legislators emphasized, "As it did in previous years, NADBank should use funding from retained earnings to provide concessional financing such as grants or subsidized loans for water conservation and diversification projects. This investment is essential to the well-being of our American municipalities and agricultural projects, and we fully support the Bank’s role in overseeing and implementing the fund to ensure these resources are allocated effectively."

In addition to Senators Cruz and Cornyn, Representatives Monica De La Cruz, Vincente Gonzalez, Tony Gonzales, Veronica Escobar, and Henry Cuellar also endorsed this appeal.

The letter further stated: "We are writing to express our strong support for the re-establishment of NADBank’s Water Infrastructure Fund and to urge the Board to take swift action in restoring this critical program. The need for sustainable water management in the U.S.-Mexico border region is greater than ever. Re-establishing the fund would be a significant step in ensuring long-term water security for both municipal and agricultural communities."

The lawmakers argue that NADBank should leverage its retained earnings to provide financial assistance through grants or subsidized loans aimed at conserving water resources and developing new sources of water supply within the border region. They also highlighted that any funding reinstated should benefit both municipal and agricultural sectors.

Furthermore, they stressed that flexibility within grant programs is crucial. They believe NADBank should coordinate with other federal and state agencies like USDA-Rural Development, Bureau of Reclamation, and Texas Water Development Board to bridge funding gaps for these projects.

Lastly, they urged U.S. Board members to encourage Mexico's timely fulfillment of capital commitments while advocating for expedited release of remaining U.S. capital corresponding with Mexico's payments.

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