Rhode Island Infrastructure Bank FY 2022 Impact

Through our lending, grants, and municipal resilience programs Rhode Island Infrastructure Bank had a big impact across the state during FY 2022. Across all of our programs, we've provided over $122 million in loans and grants for wastewater, drinking water, energy efficiency, renewable energy, and resilient infrastructure projects. Projects that supported over 3,000 jobs.

To better highlight our programs and impact, in FY 2022 we also launched a newly redesigned website with video and other case studies.
Clean Water
Clean water is critical to the health of our communities and environment. In FY 2022, our Clean Water State Revolving Fund provided $71 million for clean and wastewater projects across Rhode Island. Rhode Island communities saved $9.6 million in project costs through below market rate financing and principal forgiveness.
Drinking Water
The supply of clean drinking water is essential to our communities and businesses. In FY 2022, our Drinking Water State Revolving Fund provided $19 million for drinking water projects across Rhode Island and saved water suppliers $1.7 million in debt service payments. The Bank also partnered with three small water systems to provide over $650,000 in principal forgiveness for critical water infrastructure.
Commercial Property-Assessed Clean Energy (C-PACE)
Our Commercial Property-Assessed Clean Energy (C-PACE) program helps commercial real estate projects incorporate energy efficiency and renewable energy elements. In FY 22, C-PACE provided $3.5 million in financing for projects across Rhode Island.
Efficient Buildings Fund
Our Efficient Buildings Fund (EBF) makes attractive, long-term financing available to municipalities and quasi-public agencies for the completion of energy efficiency and renewable energy projects. In 2022 we provided $2.3 million in EBF financing and saved municipalities $4 million in lifetime energy costs. These projects also reduced 9,129 metric tons of C02 from being released into the atmosphere.
Municipal Road & Bridge Revolving Fund
Our Municipal Road & Bridge Revolving Fund (MRBRF) provides cities and towns with affordable, long-term financing for transportation infrastructure projects. In 2022, we provided $16.8 million in MRBRF financing for road and bridge projects across Rhode Island while supporting 480 jobs.
Municipal Resilience Program Action Grants
In 2022, we awarded $4.2 million in Municipal Resilience Program Action Grants to allow our city and town partners to accelerate investments in critical infrastructure and nature-based solutions that will better prepare communities for a changing climate.
Water Quality Protection Charge
In 2022, we awarded $1.1 million in Water Quality Protection Charge program grants. These 10 projects across the state will allow Rhode Island’s public drinking water suppliers to complete projects that protect sources of drinking water by conserving land and making plant improvements.
Infrastructure Bank In The News


The Monastery and many other areas nearby receive a 100% tree equity score, while the southern parts of Cumberland, such as Valley Falls and Lonsdale, have scores as low as 58%.

“There’s an inordinate amount of asphalt and not a lot of trees” in that area, said Jonathan Stevens, the town’s director of planning and development.

The $250,000 grant from the Infrastructure Bank will allow the town to plant about 200 trees in those neighborhoods along public property, according to Stevens.

The town will also match $20,000 from the grant to hire a tree warden.


With a $7.8 million loan from the Clean Water State Revolving Fund, Bristol will be financing a number of important upgrades at the town’s wastewater treatment facility.

"Our wastewater treatment plant is a critical piece of infrastructure,” said Town Administrator Steven Contente. “We thank the Infrastructure Bank for partnering with us on this project…You can’t put a price tag on a clean Bristol Harbor and Narragansett Bay."