Quasi-public agency finances clean water projects
PROVIDENCE, R.I. (AP) — A quasi-public agency says it’s financing nearly $50 million in clean water projects in Rhode Island.
The Rhode Island Infrastructure Bank said Friday the Narragansett Bay Commission received $45 million for system-wide sewer improvements, green storm water infrastructure and engineering and planning work. It says the commission will save about $5 million by borrowing through the bank’s low interest rate lending program for clean water projects.
The town of Bristol received $2.3 million for upgrades at its wastewater treatment facility and drainage improvements.
Infrastructure Bank CEO Jeffrey Diehl says they’ve provided a total of more than $1.5 billion in financing to Rhode Island communities for clean water projects.
The bank enables municipalities and quasi-public agencies to access below-market interest rate loans for projects to mitigate the effects of water pollution.