Gov. Deval Patrick announced today that more than $986 million in financing and subsidies has been awarded to fund 127 statewide infrastructure improvements targeting major drinking water and waste water projects.

The financing is part of Patrick’s Massachusetts Recovery Plan to secure the state’s economic future.

The projects listed under the State Revolving Fund (SRF) program will be eligible for assistance through the federal American Recovery and Reinvestment Act, as the Obama Administration is making $133 million available for Clean Water SRF projects and $52 million available for Drinking Water SRF projects.

"This represents an immediate and long-term investment in the well-being of our citizens and our commonwealth," said Patrick. "The State Revolving Fund provides critical assistance for improving our water resources infrastructure and, with the help of the Federal Recovery Act, gives an important economic boost to many communities across Massachusetts."

The SRF is comprised of two programs: the Clean Water Fund, which has awarded nearly $3.9 billion since 1991; and the Drinking Water Fund, which has awarded more than $975 million in projects since 1999.

This year the Clean Water SRF list includes 80 projects, totaling more than $744 million. This list identifies $451 million in new projects and $293 million in carry-over projects from prior SRF lists. The Drinking Water SRF list includes 52 projects, totaling nearly $242 million. This list identifies $112 in new projects and $129 million in carry-over projects from prior SRF lists.