Rhode Island Infrastructure Bank

Growing Rhode Island’s economy and expanding opportunity for every Rhode Island family requires schools that are warm, safe, dry, and equipped for 21st century learning. It requires well-maintained public transportation, roads, railway systems, and ports. Businesses, schools, and residents must have reliable and affordable access to electricity and other utilities, as well as broadband internet.

In 2015, Treasurer Magaziner proposed legislation to create the Rhode Island Infrastructure Bank, which has significantly increased the availability of low-cost financing for infrastructure-based projects, including energy efficiency and renewable energy projects for public, commercial, and residential properties.

Sustained investment in public school buildings, public transportation, roads and bridges, water treatment systems, and other infrastructure is vital to supporting and creating good jobs and promoting full economic participation for all Rhode Islanders.

From 2016 – 2021, the Infrastructure Bank provided $734 million which is being deployed in 32 cities and towns in Rhode Island. This financing has generated over $169 million in financial and energy savings for local communities, while creating 17,250 jobs.

In November 2021, the Treasurer’s Office published a white paper that provides an overview of the Rhode Island Infrastructure Bank’s lending programs.

Additional information can be found at the Infrastructure Bank’s website: www.riib.org