PROVIDENCE – The R.I. Infrastructure Bank has closed a round of loans totaling $8 million for infrastructure-repair projects in East Greenwich and Pawtucket.
The deals were heralded by Gov. Gina M. Raimondo, who has made fixing roads and bridges a central part of her tenure in office.
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“I applaud East Greenwich and Pawtucket for taking steps toward ensuring that their infrastructure is safe and reliable,” Raimondo said in a statement.
RIIB, a quasi-governmental agency, uses a revolving fund to finance infrastructure-improvement projects for municipalities, businesses and homeowners.
The agency made a $5 million loan to pay for road improvements in East Greenwich, and a $3 million loan with Pawtucket’s Pavement Management Program, a public works project aimed at resurfacing about 30 miles of city streets.
“This is another example of how Rhode Island communities can keep their infrastructure up to date by taking advantage of low-interest financing opportunities through the Infrastructure Bank,” said RIIB CEO Jeffrey Diehl.
Eli Sherman is a PBN staff writer. Email him at Sherman@PBN.com, or follow him on Twitter @Eli_Sherman.
