Infrastructure Bank Receives National Media Coverage in The Bond Buyer

Rhode Island Infrastructure Bank Executive Director and CEO Jeffrey Diehl recently sat down with Paul Burton of The Bond Buyer to discuss how the Bank is approaching infrastructure investments as a strategic economic development tool – supporting and spurring new growth for Rhode Island.

The interview highlighted the Infrastructure Bank’s expanded mission, which now includes a range of growth-friendly programs including clean energy, energy efficiency, and brownfield remediation for municipalities, quasi-public agencies, and private property owners.

Across all programs during Fiscal Year 2016, the Infrastructure Bank provided over $200 million in financing to municipalities, water and sewer utilities, and quasi-state agencies. This total included $138 million provided through the Clean Water State Revolving Fund, $42 million through the Drinking Water State Revolving Fund, and $17 million in the inaugural transaction of the Infrastructure Bank’s Efficient Buildings Fund. In addition to broader environmental and economic benefits, the projects also created or supported more than 5,600 jobs.

The story also highlights the Infrastructure Bank’s push to better connect and work with its core borrowers – the State’s municipalities and quasi-public authorities. Diehl noted that staff at the Infrastructure Bank are proactively working with customers to think through the numerous financing options available with the end goal of making good business decisions that serve the best interests of each borrower. Diehl added, “broadening those discussions to include all our programs is a key to our near-term effort to shift our focus from being program-centric to being customer-centric."

Diehl also discussed the Bank’s Commercial Property Assessed Clean Energy (C-PACE) program. The Infrastructure Bank recently announced financing for the first two C-PACE projects in Middletown that will save an estimated $226,000 in energy costs across a 20-year financing term. "C-PACE drives investment, and creates all kinds of jobs. It's good for the economy and good for the environment," said Diehl.

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