Infrastructure Bank Provides $5.8 Million In Financing For Road Improvement Work In Bristol & Pawtucket

PROVIDENCE, R.I. – Rhode Island Infrastructure Bank has closed on Municipal Road and Bridge Revolving Fund loans for the Town of Bristol ($2.8 million) and the City of Pawtucket ($3 million). Both communities will use the funds for road resurfacing, paving, and maintenance work.

“Roads are essential to Rhode Island’s cities, towns, businesses, and residents and we are pleased to provide low-cost financing to the Town of Bristol and the City of Pawtucket so they can improve and maintain this critical infrastructure,”
William Fazioli, Executive Director of Rhode Island Infrastructure Bank. “Our financing programs make it easier for communities to invest in essential projects at very affordable costs with a streamlined administrative process,” added Fazioli.

“The Town of Bristol works to continually invest in and improve our network of road infrastructure,”
Town Administrator Steven Contente. “That is why we want to thank the Rhode Island Infrastructure Bank for working with us to obtain $2.8 million in low-cost financing through their Municipal Road and Bridge Revolving Fund for road work throughout our community.”

“Upgrading our aging road infrastructure has been one of my top priorities,”
Mayor Donald Grebien. “Over the last 15 years we have repaved more than 150 miles of city roads, and this $3 million in low-cost financing from the Rhode Island Infrastructure Bank will allow us to continue our work resurfacing and repaving roads across Pawtucket. We want to thank the Infrastructure Bank for working with us and providing the ongoing financing needed to meet our road infrastructure investment needs.”

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