RRIF Express infra funding launched for rural US rail freight

The US Department of Transportation is opening an application window for short line & regional railroad operators to apply for funding under the Railroad Rehabilitation and Investment Financing Express (RRIF Express) programme. The application window opens January 12 until April 11, 2020. Benefits include waiving of the up to 5% Credit Risk Premium, up to $100,000 advisory fee assistance, rates of 2.25% and expedited processing. A minimum of $7 billion is reserved for projects benefiting freight railroads other than Class I carriers. The Build American Bureau will manage the new programme that is aimed at modernising outdated rural freight rail infrastructure.