The primary focus of the CBWTP is to fund water transactions that restore streamflow on ecologically-significant Columbia Basin tributaries.  The CBWTP is administered through a cooperative agreement between BPA and the National Fish and Wildlife Foundation (NFWF).  In 2005, BPA utilized the CBWTP to initiate a pilot program to fund riparian conservation easements in the Columbia Cascade Province.  CBWTP expects to continue its riparian easement program during the FY2009 contract period in addition to funding water transactions.
Subbasin plans and other habitat assessments throughout the Columbia Basin cite inadequate streamflows as a key factor limiting the productivity of both anadromous and resident fish species.  Water transactions provide an effective and appropriate response to this key limiting factor.  Restored streamflow benefit multiple fish species, particularly Chinook and Steelhead.  
The CBWTP works through ten qualified local entities (QLEs).  The QLEs now include four state water agencies and six nonprofit organizations.  These QLEs receive funds to implement and monitor water transactions in multiple priority watersheds throughout the Columbia Basin.  
Since 2002, the QLEs have completed over 150 water right transactions that have restored over 500 cubic feet per second of flow to key tributary streams in the Columbia Basin.  These transactions have included a number of innovative methods, including split-season leases, source switches, permanent purchases and water produced through significant capital investments in irrigation efficiency projects.  The term of these deals has varied from short-term to permanent.  The CBWTP anticipates that transactions funded during the period FY 2007-2009 will be increasingly long-term and permanent deals providing instream benefits beyond the year of funding.