"The White House Rural Council will announce plans on Thursday to start a $10 billion investment fund that will give pension funds and large investors the opportunity to invest in agricultural projects. Those include wastewater systems, energy projects and infrastructure development in rural America," reports Alexandra Stevenson.
Officials from the U.S. Department of Agirculture say the fund will create a new role for the department.
Here's where the money came from: "The fund, called the Rural Infrastructure Opportunity Fund, will be backed by CoBank, a cooperative bank and a member of the Farm Credit System, a government-sponsored network of banks that lend to the agriculture industry. CoBank has committed the first $10 billion to the fund."
Here's how it will work: "Capitol Peak Asset Management, an investment firm, will manage the fund’s investments and the Agriculture Department will help find projects for the fund. Investors will be able to make debt and equity investments in individual and bundled projects. They will earn returns on their principal investments along with interest."