R.I. Infrastructure Bank refinancing returns $6.4M

PROVIDENCE – The Rhode Island Infrastructure Bank recently announced it has saved $6.4 million under a refinancing of bonds for municipal and quasi-public organization water projects, according to a news release.

The savings through the Clean Water and Safe Drinking Water Revolving Fund bonds will be returned to the borrowers who received initial financing through the program, including $2.6 million for the Narragansett Bay Commission.

Other borrowers receiving funds back through the refinancing are:

  • $880,000 for the city of Newport.
  • $620,000 for Providence Water.
  • $615,000 for the city of Warwick.
  • $599,000 for the city of Woonsocket.
  • $299,000 for the town of West Warwick.
  • $174,000 for the town of Burrillville.

Nancy Lavin is a staff writer for the PBN. Contact her at Lavin@PBN.com.

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