The primary focus of the Columbia Basin Water Transaction Program (CBWTP) is to fund voluntary 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). NFWF shall follow NFWF's grant policies and procedures including Board of Director Review and Congressional Notification.

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. Voluntary water transactions provide an effective and appropriate response to this key limiting factor. Restored streamflows benefit multiple fish species, particularly Chinook salmon, Steelhead and Bull trout.

CBWTP works through Qualified Local Entities (QLEs). The QLEs include state agencies and nonprofit organizations. These QLEs receive funds to implement, process and/or monitor water transactions in multiple priority watersheds throughout the Columbia Basin. Since 2002, approximately 2.77 million acre feet has been protected instream through the program's transactions.

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 and has steadily increased the annual amount of water secured instream to benefit aquatic ecosystems in the Columbia Basin.