East Greenwich, Pawtucket Finance Road Repairs through RI Infrastructure Bank

Rhode Island Infrastructure Bank recently closed a round of loans totaling $8 million for road repair projects in the Town of East Greenwich and the City of Pawtucket.

“I applaud East Greenwich and Pawtucket for taking steps toward ensuring that their infrastructure is safe and reliable,” said Governor Gina Raimondo. “The Infrastructure Bank provides our communities with the opportunity to finance infrastructure projects at low interest rates. I encourage municipalities to work with the Infrastructure Bank to explore financing options for their infrastructure needs.”

East Greenwich will receive a $5 million loan to finance improvements in the town, while the City of Pawtucket will receive a $3 million loan to support the city’s Pavement Management Program. The Pavement Management Program is a large-scale public works project that calls for the resurfacing of approximately 30 miles of Pawtucket’s streets.

“Not only will these loans improve our neighborhoods and strengthen our communities, they will promote economic development and put Rhode Islanders to work,” said General Treasurer Seth Magaziner. “Loans distributed through the Infrastructure Bank allow Rhode Island’s cities and towns to make important repairs to the roads that communities depend on.”