PROVIDENCE, R.I. – Rhode Island Infrastructure Bank, the state’s central hub for financing infrastructure improvements for municipalities, businesses, and homeowners, has closed on a $77,000 Drinking Water State Revolving Fund (DWSRF) loan, with 100% principal forgives (i.e. a grant), for the Shannock Water District to install a new emergency generator. Located in Richmond, the Shannock Water District provides drinking water to approximately 250 people.
“Rhode Island’s many smaller water systems like the Shannock Water District, often lack the broad base of ratepayers to finance necessary but often expensive system upgrade projects on their own,”
Since the inception of the DWSRF, the Infrastructure Bank has provided more than $700 million in loans to Rhode Island’s public water systems.
Rhode Island Infrastructure Bank is Rhode Island’s central hub for financing infrastructure improvements for municipalities, businesses, and homeowners. We leverage capital in a revolving fund to offer innovative financing for an array of infrastructure-based projects including water and wastewater, road and bridge, energy efficiency and renewable energy, and brownfield remediation. These quality-of-life projects improve the State’s infrastructure, create jobs, promote economic development, and enhance the environment. www.riib.org – Facebook: @RIinfrastructure – Twitter: @RI_InfraBank