Quasi-Public Agency Finances Clean Water Projects - NECN
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Quasi-Public Agency Finances Clean Water Projects

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    Quasi-Public Agency Finances Clean Water Projects

    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.

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    The bank enables municipalities and quasi-public agencies to access below-market interest rate loans for projects to mitigate the effects of water pollution.

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