Infrastructure Bank Provided $200 Million In Financing For Rhode Island Projects In FY 2025

PRESS RELEASE
For Immediate Release: October 15, 2025

PROVIDENCE, R.I. – Rhode Island Infrastructure Bank, the state’s central hub for financing infrastructure improvements for municipalities, businesses, and homeowners has released its annual report, showing that in Fiscal Year 2025 the Bank provided $202 million in grants and loans for clean water, drinking water, emerging contaminants, community septic systems, municipal resilience, clean energy, and road and bridge projects across the state. The Bank has now provided a total of $3.1 billion in project financing since its inception in 1989.

“During a time of great uncertainty surrounding infrastructure funding, Rhode Island Infrastructure Bank is proud to have provided our municipal and other clients with over $200 million in low-cost financing and grants during fiscal year 2025,” said Executive Director William Fazioli. “From helping Providence Water replace customers lead service lines, to addressing chronic road flooding in Cranston, to removing PFAS contamination impacting drinking water systems, to providing $100 million in low-cost financing for the Narragansett Bay Commission’s Combined Sewer Overflow Phase III, we are providing the financial resources needed to get projects, both big and small, done.”

“At a time when our cities, towns, and quasi-public entities need to make major investments in basic infrastructure and need to address the impacts of climate change on that infrastructure, the Rhode Island Infrastructure Bank continues to be a reliable partner,” said Vahid Ownjazayeri, Chairman of the Bank’s Board of Directors. “Providing more than $200 million in financing and grants in FY 2025, despite federal funding challenges, is a credit to the Bank’s staff and their dedication to serving our state.”

FY 2025 Impact Highlights

• $202 million in total projects financed (grants and loans)
• $34.6 million in total grants
• $100.5 million in Clean Water State Revolving Fund loans
• $34 million in Drinking Water State Revolving Fund loans
• $15.5 million in Emerging Contaminants grants
• $2.4 million in Community Septic System Loan Program loans
• $7.6 million in Municipal Resiliency Program Action Grants
• $31.4 million in Clean Energy loans
• $1 million in Road and Bridge Program loans
• $2 million in Resilient Rhody Infrastructure Fund loans
• $26.1 million in total principal forgiveness
• Passage of legislation creating the Resilient Rhody Infrastructure Fund, a reliable, renewable, and affordable funding option to invest in resilient infrastructure projects

FY 2025 Impact Infographic

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About the Rhode Island Infrastructure Bank
Rhode Island Infrastructure Bank is Rhode Island’s central hub for financing infrastructure improvements for municipalities, businesses, and homeowners. We leverage capital in a revolving fund to offer innovative financing for an array of infrastructure-based projects including water and wastewater, road and bridge, energy efficiency and renewable energy, and brownfield remediation. These quality-of-life projects improve the State’s infrastructure, create jobs, promote economic development, and enhance the environment. www.riib.org – Facebook: @RIinfrastructure – Twitter: @RI_InfraBank