PROVIDENCE – The Rhode Island Infrastructure Bank has joined the Green Bank Network, a global group of financial institutions dedicated to “mobilizing private investment in clean energy and climate-resilient infrastructure.”
As a group, the bank said, the network’s members have invested about $10 billion in such projects in the past year.
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Infrastructure Bank CEO Jeffrey Diehl said the bank’s membership in the network should advance its environmentally friendly agenda.
The bank “is proud and honored to join its contemporaries from around the world as a member of the Green Bank Network,” Diehl said. “Leveraging the capital and knowledge within the network will not only further our commitment to invest in projects that reduce environmental impact and climate risk but result in significant savings for municipalities and local businesses that use our programs.”
As the state’s central hub for local infrastructure financing, Infrastructure Bank supports investments in critical water systems, energy efficiency and renewable-energy projects, brownfield remediation, and right-of-way improvements. In fiscal 2018, the bank financed more than $78 million in infrastructure investment across Rhode Island.
A network representative praised the Infrastructure Bank and its decision to join the network.
“With its track record of financing climate-resilient infrastructure projects, combined with its green mandate and growing track record of innovative clean-energy financing products, Rhode Island Infrastructure Bank is a welcome addition to the network,” said Andrea Colnes, international director of Coalition for Green Capital.
Scott Blake is a PBN staff writer. Email him at Blake@PBN.com.
