PROVIDENCE – The Rhode Island Infrastructure Bank last week made a deal to finance $40.7 million for clean-water projects in North Kingstown, Newport and Warwick, according to a press release.
The municipalities will leverage funds through the quasi-governmental financing agency.
“As our water infrastructure continues to age, many municipalities are making strategic investments in protecting both the health of their citizens and the broader environment, while supporting economic development in their communities,” said Jeffrey Diehl, RIIB CEO, in prepared remarks.
The deals are as follows:
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- Newport is set to receive a $33.4 million loan for improvements at the Newport Wastewater Treatment Facility. The city will also use funding to install solar panels and energy-efficiency measures at the facility.
- North Kingstown will receive a $3.6 million loan to extend its sewer system in Wickford Village, which would enable about 50 commercial properties to tie into the system.
- Warwick will receive a $3.7 million loan to extend its sewer system into various neighborhoods, which the agency says will improve water quality in the Pawtuxet River.
