Infrastructure Bank Accelerates Green Stormwater Projects

Rhode Island Infrastructure Bank is partnering with the Woonasquatucket River Watershed Council to reduce pollution from stormwater flowing into the Woonasquatucket River and provide greater public access to the river edge. The first loan will be applied to a green infrastructure project in the Olneyville neighborhood of Providence. This partnership with the Infrastructure Bank will accelerate projects using short-term bridge loans and unlock project funding from the Departments of Transportation and Environmental Management for design and construction.

In collaborating with the Green Infrastructure Strategic Advisory Council, the Infrastructure Bank is playing a vital role in assisting communities with upfront capital to initiate projects and take advantage of the post-completion funding, a clear barrier to implementation in many communities. The Infrastructure Bank is providing this necessary seed money for these projects to move forward and accelerate the environmental and economic development benefits of community-based green infrastructure projects.